LOT 28

243 Portland Road, South Norwood, SE25 4XB

FREEHOLD COMMERCIAL/RESIDENTIAL INVESTMENT - SHOP & MAISONETTE

Result: Sold for an undisclosed amount Guide price: £300,000 PLUS*

Auction Date

Tuesday, 15th December 2020 12:00pm

BY ORDER OF B TOBIN & P JOSEPH AS LPA RECEIVERS

A three storey property comprising a ground floor shop with separate front access to a maisonette above. Forming part of a local parade on the east side of the A215 Portland Road, near to the junction with Sandown Road, close to South Norwood Country Park and about ¾ mile from Norwood Junction London Overground/railway station.

Accommodation

Ground Floor Shop: 464 sq ft (43.1 sq m)
Let on a repairing and insuring lease to David Ajudua for 10 years from 08.10.2018 at £15,000 p.a. Rent review 2023. Tenant's break at the expiration of the fifth year upon 3 months' written notice. The provisions of sections 24-28 of the Landlord & Tenant Act 1954 (security of tenure) are excluded.
First & Second Floor Maisonette: Not inspected but understood to comprise 3 bedrooms, living room, kitchen, bathroom/toilet
Understood to be let on an AST (terms unknown).

EQUIVALENT TO £15,000 p.a. PLUS MAISONETTE LET ON AST

EPC Rating

Both D

Note

Auction Surveyor: Robert Woolfe
Contact: 020 8509 4408

Status

Sold for an undisclosed amount

Addendum

Whilst the lease purports that the provisions of sections 24-28 of the Landlord & Tenant Act 1954 (security of tenure) are excluded, we have not had sight of any necessary declaration made by the tenant. Bidders must rely on their own enquiries in this regard.

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.