626 Old Kent Road, London SE15 1JB SE15 1JB
This investment property consists of a ground floor retail unit with a self-contained flat to rear. The flat has an independent entrance and comprises of two bedroom accommodation. The building is let out on a new 25 year lease from June 2011 with an increased rent of 2000 pcm until March 2012 in place by way of a premium and thereafter the rent will be 1500 pcm (18,000 pa) with rent reviews taking place every three years. The property is sold with the benefit of this ongoing income. The unit is situated close to the junction of Peckham Park Road in a mixed residential and commercial area within easy access of public transport.
*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.
Please note that the following additional fees will apply to the purchase of your property:
1. Buyers Premium of £600 inclusive of VAT
2. 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.
3. Stamp Duty - rates easily available on-line
4. Your solicitor fees and any survey fees
5. Insurance - it is your responsibility from the date of exchange to insure the property purchased.