Mixed use

SOLD PRIOR TO AUCTION

Freehold development and investment

Street frontage of the building.

A further planning application has been granted (08.03.19) under reference: DC/18/110265 for the following works:

The demolition of single storey structure to the rear and the excavation of the basement to provide a one bedroom maisonette 935 sq ft with an enclosed courtyard and reduced retail floor space at 47 49 Deptford High Street, SE 8 4 AD, together with the formation of a new residential entrance on the high street.

Joint Auctioneers with AG&G Chartered Surveyors.

Proposed floor areas;
Ground Floor Retail: 496 sq.ft 46.1 sq.m
Basement Retail: 745 sq.ft 69.2 sq.m
Maisonette Residential: 935 sq.ft 86.9 sq.m
First & Second Floor Residential: 1959 sq.ft 182.1 sq.m
Total: 4135 sq.ft 384.3 sq.m

Accommodation
Currently consisting of 2 retail units, arranged over ground floors Substantial upper floors are currently vacant and in need
of full modernisation.

Tenancy Schedule
No. 47 Deptford High Street – the entire property is subject to a licence agreement, with an annual rent of £18,000 per annum with the rent payable every quarter. The licensee is liable for all utilities and the agrees to pay 50% of the building insurance. The licensee is a private individual and trades the property as a launderette. No deposit is held with the landlord.
No. 49 Deptford High Street – entire property is let on a three year commercial lease until 30th April 2024, the rent passing is £42,000 per annum with the rent payable on the 1st of every month. The business trades as a barber shop and the tenant is a private individual. No deposit is held with the landlord.

Rating Assessment
No. 47 Deptford High Street is listed within the current (2017) Rating List as a Shop and Premises with a Rateable Value of £13,250.
No. 49 Deptford High Street is listed within the current (2017) Rating List as a Shop and Premises with a Rateable Value of £10,250.

VAT:
All figures are quoted excusive of VAT

Location
Subject property is approximately 5 miles to the South East of Central London located on the busy & popular Deptford High Street. The area is home to a wide number of multiple national retailers and independent retailers and restaurateurs.
Transport links are excellent with 3 train stations close by in Deptford, New Cross and Deptford Bridge, making this property superbly located. Trains from Deptford station to London Bridge
take just 10 minutes.

EPC: see legal pack

Exchange and administration fee information:  (plus fees)
Buyers Admin Fee Applies Upon the fall of the hammer, the Purchaser shall pay a 10% deposit (subject to minimum of £5,000, whichever is the greater) and a Buyer's Admin Fee of £1200 inc VAT and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).
In addition to the purchase price, buyers may be required to pay additional fees, costs and charges. These may include, but are not limited to, Value Added Tax (VAT), Stamp Duty, ground rents, rent arrears/apportionment of rent, outstanding service charges, sellers search costs/disbursements, reimbursements of sellers solicitors, auctioneer costs, buyer’s premiums or reservation fees.