Auction House London

Lot 71

Mixed Use - Commercial Property 

5 & 5A Parish Lane

Penge, London, SE20 7LH

Sold prior to auction for an undisclosed amount.

A Mixed Use Commercial and Residential Investment Producing a Combined Income of £23,700 Per Annum

Description

The property comprises a mid-terrace building arranged as ground floor commercial unit (café) with rear yard and a two bedroom maisonette on the first and second floors with a roof terrace.

Tenure

Freehold

Location

The property is situated on a mixed use road close to local shops and amenities. The open spaces of Cator Park are within easy reach. Transport links are provided by Penge West overground and rail stations.

Note

The Sellers have informed us that the commercial tenants spent in excess of £50,000 on the refurbishment and fit out of the café at the start of the lease.

Addendum

Sold Prior

Accommodation & Tenancy Schedule

Property Floor Accommodation Tenancy Details Current Annual Rent
5 Ground Seating Area, Counter, WC, Kitchen 15 year Lease from April 2021 £9,000
5A First
Second
Two Bedrooms, Kitchen, Bathroom
Reception Room, Roof Terrace
Periodic Tenancy from 17th July 2020 £14,700

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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Sold Prior
For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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