Auction House London

Lot 29

Residential Development - Commercial Property 

Oakdene

51 Bourne Way, Bromley, Kent, BR2 7HA

Unsold, please refer to Auctioneer

A Freehold Residential Development and Ground Rent Investment Opportunity Comprising a Detached Block of Nine Flats (All Sold Off with an Annual Combined Ground Rent of Income of £1,000) Offered with Full Planning Permission for the Erection of an Additional Storey to Provide 2 x One Bedroom Flats and 1 x Two Bedroom Flat.

Description

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of both The Knoll and West Wickham Common are also nearby. Transport links are provided by Hayes rail station which is a short walk away.

Accommodation

Nine flats arranged over three floors (all sold off on leases ranging between 88 years unexpired to 998 years unexpired with a combined ground rent of £1,000 per annum - refer to legal pack for more information)

Exterior

The property benefits from communal gardens and off-street parking spaces.

Planning

Bromley Borough Council have granted the following planning permission (Ref: 18/03182/FULL1) on 11th October 2018:
'Construction of a third floor roof extension to the existing building to provide 3
residential units (2 x 1 bed and 1 x 2 bed).'

Proposed Accommodation

An additional floor to provide a further three flats (2 x 1 bed, 1 x 2 bed).

Note

The sale will be by way of a company sale within an SPV (Special Purpose Vehicle) - please refer to the legal pack for more details.

Addendum

Planning permission was granted on 11th October 2018 and not as originally published.

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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Open Site For further enquiries, please contact Jamie Weir at Jamie.weir@auctionhouselondon.co.uk
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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