Property for sale in Lavender Hill, London SW11

Strapline

Auction Sale - 14/12/2022

An appealing freehold mid terrace building arranged as a shop unit let at £20,000 per annum and residential upper part having four self contained flats, one flat let on an assured shorthold tenancy, three flats sold on leases with planning permission for two additional floors to create a good size one bedroom flat with south facing sun terrace near good shopping facilities and Clapham Junction station - Investment let at £31,600 per annum

Description

An attractive mid terrace building arranged as a ground floor and basement shop unit trading as gnj Hairstudio.

Separate front entrance to four self contained flats on the first and second floors.

One second floor studio flat let on an assured shorthold tenancy, three flats sold on leases.

Location

Situated in a popular location on the south side Lavender Hill (A3036) near the junction of Thirsk Road.

The property forms part of a local parade serving a well populated surrounding residential area.

The shopping facilities along Battersea Rise and Northcote Road, where there are a good selection of cafes, bars and restaurants, are nearby.

The leisure areas of Clapham Common and Battersea Park are both within easy reach.

Access to the A3 provides good road links into central London and westwards to the M25.

Transport

Overground - Clapham Junction

National Rail - Clapham Junction

Tenancy

Ground Floor Shop and Basement - Let on a 10 year lease from 19th September 2016 at a rent of £20,000 per annum. September 2021 rent review outstanding.

£5,000 rent deposit held.

Second Floor Rear Flat - Two year assured shorthold tenancy from 15th June 2021 at a rent of £11,100 per annum.

Accommodation

Ground Floor - Shop Internal Width approximately 13' 2'',

Shop Depth approximately 34' 10''

Kitchen, Store, WCs

Basement - Store

First/Second Floors - Two Flats each sold on a 125 year lease from 25th March 1988

Total Ground Rent £300 per annum

One flat sold on a 125 year lease from 25th March 1987 Ground

Rent £200 per annum

Second Floor Rear Flat - Studio Room, Kitchen, Bathroom/WC

Planning

Permission (Application No: 2020/3309) was granted by Wandsworth Borough Council on 2nd November 2020 for erection of extension to form two additional floors of accommodation and formation of a roof terrace above 3 - storey back addition in connection with creation of an additional 1 x 1 bed flat.

A Community Infrastructure Levy ( Liability Notice Ref: LN00004178) of £36,362.46 is payable on commencement of the development.

The proposed development would comprises a reception room, kitchen and bathroom/wc on the third floor and a bedroom on the fourth floor totaling approximately 656 sq ft. There is provision for a south facing rear sun terrace of approximately 161 sq ft.