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244, Brixton Hill, LONDON, London, SW2 1HF

17th September 2018
starts 10:30 AM at Grand Connaught Rooms
sold for
£417,000

Tenure: Freehold

freehold investment with rent reserved £34,684 per annum
three retail units and four flats (flats sold on long leases)
valuable reversion on one flat in 66 years

location:
The property lies on the west side of Brixton Hill opposite Rush Common between the junction of Brixton Hill with New Park Road to the north and Morrish Road to the south. Brixton Hill forms part of the A23 with the property located within this parade lying to the north of the junction of Brixton Hill and the South Circular Road (A205). The centre of Brixton lies to the north with Streatham to the south and the A23 carries a high volume of passing vehicular traffic enhancing trade to this locality. Other transport links include bus routes serving the surrounding area with a rail and underground (Victoria Line) located at Brixton.

description:
The property comprises this mid terrace three floor building which is arranged to provide three retail units at ground floor level (one interconnecting) with four flats (each sold on long leases) above at first and second floor levels. There is a vehicular entrance to the left hand side of the building leading to a rear yard and parking area.

accommodation:
Please see attached brochure

total current rent reserved:
£34,684 per annum with rent reviews in 2019 and 2022 and reversions on two flats – Flat 2 in 66 years and Flat 3 in 87 years.

note:
The freeholder has served the requisite notices under the Landlord and Tenant Act on the residential lessees and the lessees have NOT reserved their rights to purchase.

VAT is not appicable on this lot.







Important Notice:
For each Lot, a contract documentation fee of £1000 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus makes every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers’ risk.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Lot location is based upon nearest property postcode only. Actual location of property being sold may differ.

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lot infomation last updated: 8th January 2019 at 10:28 AM
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