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Lot 127 Freehold Building Comprising Sixteen Self-Contained Flats For InvestmentAuction Date:
18th September 2024
9A-H & 10A-H Cobham Terrace, Bean Road, Greenhithe, Kent, DA9 9HZ
Rental income approximately £142,000 per annum
A substantial freehold opportunity comprising two buildings, providing a total of 16 self-contained one-bedroom flats. There was Planning (now lapsed) for further extension in the roof space to provide an additional two self-contained studio flats which would then total 18 units once completed. Each existing flat is let on an Assured Shorthold Tenancy Agreement.
The property is well located, being just over half a mile walking distance from Greenhithe Railway Station (regular Thameslink & Southeastern services), a short drive to the Bean Interchange on the A2 and Bluewater Shopping Centre to the south.
It is considered there is scope for improvement of the current rentals and the added benefit of two additional flats, subject to all necessary consents being obtainable.
Outside
There is car parking across the whole frontage of the building.
Tenancies
Tenancy information is provided in the Table shown above, and will also be provided in the legal pack which will be available to download from the Clive Emson website.
Planning
Planning Permission was previously granted by Dartford Borough Council, under ref: DA/18/01104/FUL, dated 24th May 2019 for conversion of two existing loft rooms to provide two studio flats to provide a total of 18 flats, subject to conditions. A copy of the historic Planning Consent and accompanying documents are available to download from the Local Planning Authority website.
Viewing
Strictly by prior confirmed appointment with the Auctioneers, and only on the basis of access to the communal areas only. Interested applicants are requested not to contact the tenants directly.
Site Measurements
The whole site extends to 0.07 hectares (0.17 acres).
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
