Property Details - 55 Atlantic Road, Brixton, London

Photo of 55 Atlantic Road, Brixton, London

Sold for £450,000

Lot 4

This investment property consists of a single storey lock-up shop located on the east side of Atlantic Road, to the south of the junction with Coldharbour Lane. This popular commercial location benefits from pedestrian footfall to Brixton Market and within half a mile of Brixton Main Line station, Brixton Underground station and Brixton Road (A23).

The shop is let and trading as "Right Choice Hair Salon" for a duration of 10 years from 16th October 2011 at an annual rent of £10,500 pa. The property is sold with the benefit of of this investment income.

ACCOMMODATION

According to the VOA website the property comprises:

Retail Zone A: 400 sq ft (37.21 sq m)
Retail Zone B: 150 sq ft (13.91 sq m)
Total Area: 550 sq ft (51.12 sq m)

TENURE

Leasehold - 949 years (less 10 days) from 18th November 1920 at a ground rent of £1 pa.

LOCAL AUTHORITY & TAX RATING

London Borough of Lambeth. Tel: 020 7926 1000
Rateable Value: £5,500

VIEWING

By appointment through the Auctioneers

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Price Information

*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) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Additional Fees

Please note that the following additional fees will apply to the purchase of your property:

Buyers Premium of £600 inclusive of VAT
Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to you prior to auction. You will be expected to sign this document as well as the Sales Memorandum at the time of purchase.
Stamp Duty - rates easily available on-line
Your solicitor fees and any survey fees
Insurance - it is your responsibility from the date of exchange to insure the property purchased.

55 Atlantic Road, Brixton, London