Lot 127 - Freehold Building Comprising Sixteen Self-contained Flats For Investment
9a-h & 10a-h Cobham Terrace, Bean Road, Kent, DA9 9HZ
Guide Price: *
£1,700,000
Fees apply
Buyer's fee:Check legal pack
All fees include VAT at 20%
Holding Deposit: *£5,000
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
Traditional
Sold for:
£1,700,000Bid history
1 bidN
11/09/2024 14:37:14 - £1,700,000
Rental income approximately £142,000 per annum
A substantial freehold opportunity comprising two buildings, providing a total of 16 self-contained one-bedroom flats. There was Planning (now lapsed) for further extension in the roof space to provide an additional two self-contained studio flats which would then total 18 units once completed. Each existing flat is let on an Assured Shorthold Tenancy Agreement.
The property is well located, being just over half a mile walking distance from Greenhithe Railway Station (regular Thameslink & Southeastern services), a short drive to the Bean Interchange on the A2 and Bluewater Shopping Centre to the south.
It is considered there is scope for improvement of the current rentals and the added benefit of two additional flats, subject to all necessary consents being obtainable.
Outside
There is car parking across the whole frontage of the building.
Tenancies
Tenancy information is provided in the Table shown above, and will also be provided in the legal pack which will be available to download from the Clive Emson website.
Planning
Planning Permission was previously granted by Dartford Borough Council, under ref: DA/18/01104/FUL, dated 24th May 2019 for conversion of two existing loft rooms to provide two studio flats to provide a total of 18 flats, subject to conditions. A copy of the historic Planning Consent and accompanying documents are available to download from the Local Planning Authority website.
Viewing
Strictly by prior confirmed appointment with the Auctioneers, and only on the basis of access to the communal areas only. Interested applicants are requested not to contact the tenants directly.
Site Measurements
The whole site extends to 0.07 hectares (0.17 acres).
Summary
- Lot number
- 127
- Auction end
- 11th Sep at 14:50
- Property type
- Detached
- Tenure
- Ask Agent
- Bedrooms
- 5+
- Bathrooms
- 3+
- Council tax band
- Ask Agent
Summary
- Lot number
- 127
- Auction end
- 11th Sep at 14:50
- Property type
- Detached
- Tenure
- Ask Agent
- Bedrooms
- 5+
- Bathrooms
- 3+
- Council tax band
- Ask Agent
This property is being sold by:
Clive Emson - Essex, North & East London
01245 205778
First Floor, 129 New London Road, Chelmsford, Essex, CM2 0QT
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and Clive Emson Auctioneers shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by Clive Emson Auctioneers. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.
