LOT 7

17 The Pavement, Clapham, London, SW4 0HY

SUBSTANTIAL FREEHOLD INVESTMENT OVERLOOKING CLAPHAM COMMON. COFFEE SHOP, 4 FLATS (1 x 3 BED, 2 x 2 BEDS & 1 x 1 BED) LET ON ASSURED SHORTHOLD TENANCIES & VACANT BASEMENT WITH DEVELOPMENT POTENTIAL (SUBJECT TO OBTAINING ALL NECESSARY CONSENTS). EQUIVALENT TO £163,640 P.A.

Guide price: £3,450,000 - £3,500,000*

Auction Date

Thursday, 8th April 2021 12:00pm

An attractive 4 storey, Grade II Listed property within a Conservation area comprising a ground floor shop/basement and 4 self-contained flats. Occupying a prominent position within a popular location, overlooking Clapham Common and a short distance from Clapham High Street where there are a variety of multiple retailers including Waitrose, Vision Express, Starbucks, Barclays and Five Guys amongst others. Clapham Common underground station (Northern line) is about 100 metres away.

Accommodation

Ground Floor Shop & Basement:
Ground: 728 sq ft (67.6 sq m)
Basement: 116 sq ft (10.8 sq m)
Flat 1 (Part First Floor):
1 bedroom, living room, kitchen, bathroom/toilet
GIA: 861 sq ft (80 sq m)

Flat 2 (Part Second & Third Floor):
Second Floor: Bedroom, living room, kitchen, shower room/toilet
Third Floor: 2 bedrooms (one with en-suite) & bathroom/toilet
GIA: 1,631 sq ft (151.5 sq m)

Flat 3 (Part First & Part Second Floor):
First Floor: Living room, kitchen, bathroom/toilet.
Second Floor: 2 bedrooms.
GIA: 743 sq ft (69 sq m)

Flat 4 (Rear Ground Floor & Lower Ground):
Ground: Bedroom, open plan lounge/kitchen, shower room.
Lower Ground: Bedroom with en-suite & walk in wardrobe.
GIA: 966 sq ft (89.7 sq m)

Basement:
GIA: 659 sq ft (61.2 sq m)

Tenancy Details

Ground Floor Shop & Basement:
Let on a repairing and insuring lease (subject to a schedule of condition) to R J B Stone Ltd (trading as "The Common" coffee shop) for 10 years from 19.09.2014 at £65,000 p.a. September 2019 rent review outstanding. Tenant Profile: www.wearecommon.co.uk

Flat 1:
Let on a 12 month AST from 26.02.2021 at £1,800 pcm. Mutual break on 2 months notice after 6 months.

Flat 2:
Let on a 12 month AST from 24.06.2018 (holding over) at £2,650 pcm.

Flat 3:
Let on a 12 month AST from 19.03.2021 at £1,770 pcm. Mutual break on 2 months notice after 6 months.

Flat 4:
Let on a 12 month AST from 26.03.2021 at £2,000 pcm. Mutual break on 2 months notice after 6 months.

Basement:
Offered Vacant

EQUIVALENT TO £163,640 p.a. PLUS VACANT BASEMENT WITH DEVELOPMENT POTENTIAL (SUBJECT TO OBTAINING ALL NECESSARY CONSENTS)

Note

1. Floor plans and extra photos available on our website.

Auction Surveyor: Robert Woolfe
Contact: 020 8509 4408 robert.woolfe@strettons.co.uk

Status

Please refer to auctioneer

Addendum

In respect of the commercial tenancy, a one-off (non-refundable) credit of £4,500 against the rent due on 25 March 2021 has been has been given due to the prolonged period of mandatory closure imposed by the government. In respect of the ASTs for Flats 1, 3 & 4 each mutual break clause is subject to not less than two months notice in writing, provided the notice period does not end earlier than four months after the start of the tenancy (subject to any relevant statutory rights).

Joint Auctioneer

Chris Baker

Chris Baker 020 7520 2756 chris.baker@lambertsurv.co.uk

* 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.