Lot 07 29 & 31 Queenstown Road, Battersea, SW8 3RE

Bidding Closed

SOLD FOR

£2,001,000

Property Enquiries

Simon Bailey

simon.bailey@bidx1.com
+44 (0) 7732 681 156

Viewing/ Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Anthony Akka

anthony.akka@prioritylaw.co.uk
0161 207 7600
Description
Map
Viewings

Property Summary
  • Two adjoining freehold retail and residential buildings
  • Arranged as two retail units and six flats
  • Asset management opportunities
  • Producing £96,000 per annum (plus two vacant flats) 
  • On the instructions of James Liddiment and Paul Greenhalgh of Kroll Advisory Ltd acting as Joint Fixed Charge Receivers
Tenure

Freehold

Location

Battersea is a popular suburb of south west London lying about 3 miles south west of central London. It can be accessed via the A3220 (Battersea Bridge Road), A3031 (Albert Bridge Road), A3205 (Battersea Park Road) and A3216 (Queenstown Road), which link with the A3 to the south and from there the M25 at junction 10. The area is well served by numerous bus routes as well as rail services from Wandsworth Road, Battersea Park and Queenstown Road railway stations providing regular services in to London Victoria and London Waterloo.
The property commands a prominent corner position on the west side of Queenstown Road and forms part of an established retail parade. As well as numerous independent retailers nearby occupiers include Sainsbury's Local, Tesco Express, Ladbrokes and Caffe Nero.

Description

Two adjoining terraced buildings (one end of terrace) of traditional construction beneath a mansard roof arranged as two ground floor retail units and six self contained flats. The flats are accessed from the rear with the top floor flat (29-31c) benefitting from a large roof terrace.

Planning

Wandsworth Borough Council (020 8871 7620) http://www.wandsworth.gov.uk

VAT
Please refer to Legal Documents
Property Table
AddressFloorAccommodationTenancyRent per annum
TOTAL   £96,000
29GroundRetail/ancillary 66.37 sq m (714 sq ft)Let for a term of 5 years from 01/03/2019£15,000
29aFirst3 bedroom flat 58.71 sq m (632 sq ft)Let for a term of 3 years from 04/01/2021£15,600
29bSecond3 bedroom flatAST£20,400 (1)
29c (known as 31 ground floor rear)Ground1 bedroom flatVacant£0
31GroundRetail/ancillary 39.55 sq m (426 sq ft)Let for a term of 10 years from 15/12/2020£9,000
31aFirst2 bedroom flatAST£18,000 (2)
31bSecond2 bedroom flatAST£18,000
29-31cThird3 bedroom flat with roof terraceVacant£0

(1) The contracted rent is £25,200 but the rent quoted in the table above is a concessionary rent
(2) Rent is inclusive of bills

EPC

Please refer to the legal pack


*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,250 (inclusive of VAT) charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (inclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,750 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. All lots sold “Subject to Vendor Confirmation” will be subject to the acceptance and confirmation by the Vendor. The highest bid will be presented to Vendor, the vendor will have to either accept, decline or make a counter offer the highest bid within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising the offer the Vendor is willing to accept. The Highest Bidder will have to either accept or reject the Vendor’s counteroffer. The Vendor reserves the ultimate right, apart from the auctioneer, to accept and to decline to sell to the highest or any bidder, without giving any reasons.
  8. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.


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