Lot 112 Freehold Land With Service Charge IncomeAuction Date:
22nd March 2023
Greenwich Centre Business Park, 53 Norman Road, London, SE10 9QF
Greenwich Centre Business Park is an established commercial and light industrial estate located off Norman Road, being well positioned for access to Central London and the South East.
The site is set on land adjacent to Greenwich Station (Thameslink & DLR services) and is a short walking distance from the historical National Maritime Museum, Greenwich Park and the Royal Observatory. Also included is a sub-station (coloured blue on the plan for illustration purposes) which is subject to a term of 60 years from 18th September 1962 to £1 per annum.
The site offered is land containing access points, roadways, pathways and service areas. There are 23 business units on site, which have been sold on their own respective freehold titles.
Each business unit has a title covenant, which entitles the owner of the freehold to recoup the costs for maintaining, managing, repairing and securing the site by way of a service charge. We are advised by the seller the net income from the service charge is circa £13,000 per annum, with scope to improve.
We recommend all interested parties to check the legal pack for further details of these costs and charges, which can be downloaded from the Clive Emson website.
Viewing
Interested bidders may view directly on site, during daylight business hours only, taking care to avoid trespass on business unit land. Please do not contact any of the occupied units directly.
Auctioneer’s Note
The land to be sold is coloured green on the location plan. The parts uncoloured are all sold off under separate Titles. A copy of the MapSearch plan is included in the legal pack which can be downloaded from the Clive Emson website.
There is an addendum available to be read
in conjunction with the legal documentation.
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 Buyers Fees
