Lot 68

FREEHOLD INVESTMENT LOCK-UP SHOP AND FLAT ON LONG LEASE

23 & 23A Montpelier Avenue, Bexley, Kent, DA5 3AP
23 & 23A Montpelier Avenue, Bexley, Kent, DA5 3AP
Sold £175,000

Currently let at £12,850 per annum

This mixed use building is located in a parade of similar properties, in a residential location, and comprises a tenanted ground floor shop with parking to the rear and a two bedroom flat on the first floor which has been sold on a long lease.

Ground Floor Shop

Retail areas and staff toilets with rear access.

Tenancy

Let under the terms of a 10 year lease, from December 2014, at a current rental of £12,500 per annum.

First Floor Flat

Tenure

Sold on 189 year lease, from 9th November 1979, at a current ground rental income of £350 per annum.

Outside

Rear access service way and hardstanding parking for several cars.

Planning

Planning Permission has been granted by the London Borough of Bexley, under ref: 17/00278/FUL, dated 10th April 2017 for change of use of ground floor to provide one x2 bedroom self-contained flat, subject to conditions.

A copy of the Planning Consent and proposed plans are available to download from the Council website, Clive Emson website or inspection at the Auctioneer’s Office.

Local Planning Authority

London Borough of Bexley. Tel: 020 8303 777. Website: bexley.gov.uk

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/