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12/12/2024

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FREEHOLD INVESTMENT PROPERTY WITH DEVELOPMENT POTENTIAL

Lot 45

323 Baring Road, Grove Park, London SE12 0DZ

Photo of 323 Baring Road, Grove Park, London SE12 0DZ
Sold for £118,000

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FREEHOLD INVESTMENT PROPERTY WITH DEVELOPMENT POTENTIAL

Lot 45

This end of terrace property is situated within a popular town centre of mainly occupied units. The parade consists of the local mainline station that connects to London, multiple users such as Coral Bookmakers, Somerfield and Tesco Express along with numerous local traders and occupiers. This brick built building constructed under a pitched tile roof consists of ground floor and basement accommodation that has previously been used as offices along with two flats above that have been sold on long leases. The flats are both held on leases of 99 years from 25 December 1987 each producing a ground rent of 100 (200 pa). In our opinion the ground floor and basement offers excellent potential for investment or conversion with the further potential of extension to rear subject to obtaining any necessary planning consent. The vacant part also includes two off-street parking spaces to the front.

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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.

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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.

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