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Lot 1

Commercial & Residential Ground Rent Investment with 6 Valuable Reversions
6 Week Completion

Situation

Located on a tertiary main road position on the southern side of the High Street between Kenilworth Road and Clevedon Road, close to multiples such as Tesco Express, Sainsbury's and Lidl and a variety of local traders serving the residential area. Kent House Station (South-Eastern Line) is 350 yards away.
Penge lies midway between Crystal Palace and Bromley some 6 miles south-west of Central London.

Property

Occupying a rectangular site of approx. 0.35 acres with a road frontage of approx. 180 feet with the following commercial and residential elements:
No. 180-182:
• A large block comprising a Ground Floor Showroom with approx 116' road frontage and an open car parking area at the front which provides parking for 24 cars accessed via Clevedon Road and the High Street.
• 6 Self-Contained Flats (4-9 Kenilworth Court) each planned on the first and second floors. The Flats are accessed from the rear and benefit from two entrances via Clevedon Road and Kenilworth Road.
No. 174 -178:
• An adjoining block comprising 3 Ground Floor Shops with 3 Self-Contained Flats above (1-3 Kenilworth Court). The Flats are accessed from the rear and benefit from two entrances via Clevedon Road and Kenilworth Road.
• 10 Garages to the rear of the block which are accessed through a service road via Kenilworth Road.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: In accordance with s.5B of the Landlord & Tenant Act 1987, Notices have been served on the lessees and they have not reserved their right of first refusal. This lot cannot be sold prior to the auction.

Note 2: The Freeholder insures. Current sum insured is £4,691,532 and current premium is £5,889.12 p.a.

Note 3: Flat 9 was sold for £283,000 in July 2015 when it only had approx. 541/2 years unexpired (Source: rightmove.co.uk)

*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.

174-182 High Street, Penge, London SE20 7QB