miles
Lot 37

EXTENSIVE COMMERCIAL & RESIDENTIAL INVESTMENT WITH PLANNING FOR ADDITIONAL FLATS

26A Bostall Hill, London, SE2 0RA
26A Bostall Hill, London, SE2 0RA
Mixed Commercial/Residential - South East London AreaMixed Commercial/Residential - South East London Area - Photo 1Mixed Commercial/Residential - South East London AreaMixed Commercial/Residential - South East London Area - Proposed Front Elevation (North East)Mixed Commercial/Residential - South East London AreaMixed Commercial/Residential - South East London Area - Photo 3
MAY AUCTION

Currently let at £48,000 per annum (this includes the shop that is going to be vacated upon completion)

A three storey mixed-use commercial and residential building comprising double shop unit and basement with three residential flats above. Planning Permission has been granted to add a further two residential flats making this a possible investment and development opportunity.

Bostall Hill is located within the popular South East London area of Abbey Wood in close proximity to local transport, shopping and Abbey Wood station providing rail transport links via Thameslink and South Eastern services.

Existing Accommodation

Ground Floor

Arranged as a double shop unit, with two separate front entrances. Shared toilet, storeroom, sink and hot water supply.

First Floor

Flat 1

One bedroom.

Second Floor

Flat 2

Two bedrooms.

Flat 3

One bedroom.

Outside

Gated yard with storage at the back and side of the shop units.

Auctioneer’s Note

At the time of publication, the Auctioneers have been unable to internally inspect the property. These details have been provided by the seller and interested applicants should rely on their own investigations to verify the information provided.

Tenancies

One of the shop units, includes a basement and is let on a long lease basis at £800 per month. The other shop unit is currently let at £500 per month and will be vacant possession upon completion.

The three residential flats are let as follows:
One is let on an Assured Shorthold Tenancy and two are on rolling one year leases. Together they produce a total annual income of £32,400 (monthly income of £2,700). Please refer to the legal pack for further details.

Planning

Planning Permission has been granted by the Royal Borough of Greenwich under reference: 18/1129/F, dated 17th April 2019, for construction of a three storey side extension, construction of an additional storey on existing rear extension, loft conversion, addition of two residential units and alterations to residential mix to create a total of five residential units (2 x studio unit, 1 x 1-bedroom, 1 x 2-bedroom and 1 x 3-bedroom), subject to conditions. The planning permission expires on 19th April 2022.

A copy of the Planning Permission and accompanying documents may be downloaded from the Local Planning Authority website, the Royal Borough of Greenwich. Tel: 020 8854 8888. Website: royalgreenwich.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/