Walworth Road

Freehold four floor end terrace building arranged as two ground floor retail units (one let and one vacant) and three self-contained flats above all sold off on long leases.
Investment (with one vacant retail unit)
By order of the Fixed Charge Receivers

Location:
The property occupies a prominent position on Walworth Road (A215), benefiting from substantial pedestrian footfall and a high volume of passing vehicular traffic, between its junctions with Sutherland Walk and Carter Place Public transport links include Kennington Underground station (Northern Line) Elephant & Castle Underground and Mainline station (Northern & Bakerloo Lines, Thameslink/South Eastern) together with a network of local bus services serving the surrounding vicinity. Road links include the A215 (Walworth Road) and A2 (Old Kent Road). Shopping amenities can be found locally within East Street Market and the independent and convenience retailers along Walworth Road. Recreational pursuits can be found locally at the open spaces of Burgess Park and Red Cross Garden, both within easy walking distance.

Description:
Freehold end-terrace building arranged over ground, first, second and third floors, comprising two ground floor retail units (one let producing £28,800 per annum and one vacant), together with three self-contained flats above, all of which have been sold off on long leases.

Accommodation:
Unit: Front retail unit
Tenant: Los Toros grill
Tenancy: Let on an FRI lease for a term of 20 years from 12th March 2020
Rent: £28,800 pa
EPC: C
Gross Internal Area GIA (Source: EPC): 60 square metres

Unit: Rear retail unit
Tenant: Vacant
Tenancy: Vacant
Rent: Vacant
EPC: C
Gross Internal Area GIA (Source: EPC): 43 square metres

Unit: Flats 304a, 304b & 304c
Tenant: Sold off on individual 125-year leases from 25th March 2005 at a ground rent of £250 p.a. doubling every 25 years

Rent reserved:
£28,800 per annum (together with rear vacant retail unit)

To view: (rear retail unit)
Strictly by arrangement with the auctioneer.






Important Notice:
For each Lot, a contract documentation fee of £1,800 (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 make 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 areas 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. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. 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.