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Lot 26 Click here for addendum

(GROSS YIELD 16.1%)
6 Week completion

SITUATION

Located within the heart of Abbey Wood close to the A2041 just a short walk from a Sainsbury's Superstore, McColls, Post Office, Greggs and Abbey Wood Station (Southeastern Rail Line).
Abbey Wood is positioned approx. 2½ miles east of Woolwich, 3 miles south-east of London City Airport and some 6 miles east of Canary Wharf.

PROPERTY

An end of terraced building planned on ground, first and second floors comprising 6 Rooms (each with a Shower Room/WC) together with 2 communal Kitchens.
In addition, the property includes:

• 3 Phase electricity
• uPVC double glazing
• Front garden
• First Floor Balcony
• Garage

ACCOMMODATION

Ground Floor
2 Rooms (each with Shower Room/WC)
First Floor
2 Rooms (each with Shower Room/WC)
Communal Kitchen and Balcony
Second Floor
2 Rooms (each with Shower Room/WC)
Communal Kitchen

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let to District Homes CIC (District Homes is a non profit registered provider of social housing - visit: districthomes.org.uk) for a term of 5 years from 15th February 2016 at a current rent of £56,217.60 per annum (£4,684.80 pcm) exclusive (see Notes 1 and 2).

Tenant's Break at any time on one month's notice.

Note 1: District Homes sublet the Rooms on ASTs.

Note 2: The Tenant is to pay rent to the Freeholder within 5 working days after receipt of rent from the Sub Tenant - refer to lease.

Note 3: The property is registered as an HMO, but a Licence is not required whilst the property is let to a Housing Association.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

97 Lensbury Way, Abbey Wood, London SE2 9TA