Land For Sale £550,000
Summary
auction sale 15 November 2021 - Freehold Development Opportunity with Planning Permission
Planning Granted For Four New Flats
Existing building comprising 30 flats sold on leases
Five flats with valuable reversions within 51 to 60 years
description
Freehold Development Opportunity with Planning Permission
Planning Granted For Four New Flats
Existing building comprising 30 flats sold on leases
Five flats with valuable reversions within 51 to 60 years
Location:
The property is situated in this popular and fashionable area of Chiswick to the south of Chiswick High Road and north of the Great West Road. The location is ideal for access to a host of bars, restaurants shopping and recreational pursuits available within Chiswick High Road. Transport links to the area are
excellent with Gunnersbury Underground station being within a short walk, other public transport links include local bus routes whilst the Great West Road forms part of the A4 linking to the M4 or east towards West London.
Description:
Set within grounds with a central “courtyard “garden, Churchdale Court is a pair of detached building purpose built to be arranged to provide a total of 30 existing flats. Some of the flats benefit from either a garage or parking space whilst all enjoy the use of communal gardens.
Planning:
On 7th October 2020 planning permission was granted ( ref 00571/A/P5 ) by The London Borough of Hounslow for the conversion of the existing roof space within each block to provide four flats. Each block will provide two new flats in the roof space with each of the flats providing two bedroom accommodation. A full set of plans, application drawings and the planning permission is available from the auctioneer’s web site.
Tenancies/Lease extension Potential
The existing 30 flats are sold on a range of leases some of which have been extended during our client’s ownership of the freehold. The majority of the flats now have long leases in excess of 100 years however, five of the flats have valuable reversion/ lease extension value and these flats have varying terms of between 51 to 60 years remaining unexpired. A full schedule of the leases, ground rents payable and highlighting those flats with reversionary value is within the legal pack and available to download from the web site.
The current total ground rent is £3,440 per annum. Premiums paid for the most recent lease extensions are:
Flat 5 in 2020 £69,268
Flat 8 in 2021 £70,000
Flat 13 in 2021 £56,875
Flat 28 in 2019 £70,000
Landlord and Tenant Act Notice:
Requisite notices have been served under the landlord and tenant act and the lessees have reserved their rights.
Viewing:
There is limited access available for viewing the roof space. Viewing can be accommodated by personal appointment only and we respectfully request that only those potential buyers who are serious about bidding for this lot request an appointment to view directly with the auctioneers.
Important Notice:
For each Lot, a contract documentation fee of £1,150 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.
1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither sequence (UK) limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.
1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither sequence (UK) limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.
auction sale 15 November 2021 - Freehold Development Opportunity with Planning Permission
Planning Granted For Four New Flats
Existing building comprising 30 flats sold on leases
Five flats with valuable reversions within 51 to 60 years
description
Freehold Development Opportunity with Planning Permission
Planning Granted For Four New Flats
Existing building comprising 30 flats sold on leases
Five flats with valuable reversions within 51 to 60 years
Location:
The property is situated in this popular and fashionable area of Chiswick to the south of Chiswick High Road and north of the Great West Road. The location is ideal for access to a host of bars, restaurants shopping and recreational pursuits available within Chiswick High Road. Transport links to the area are
excellent with Gunnersbury Underground station being within a short walk, other public transport links include local bus routes whilst the Great West Road forms part of the A4 linking to the M4 or east towards West London.
Description:
Set within grounds with a central “courtyard “garden, Churchdale Court is a pair of detached building purpose built to be arranged to provide a total of 30 existing flats. Some of the flats benefit from either a garage or parking space whilst all enjoy the use of communal gardens.
Planning:
On 7th October 2020 planning permission was granted ( ref 00571/A/P5 ) by The London Borough of Hounslow for the conversion of the existing roof space within each block to provide four flats. Each block will provide two new flats in the roof space with each of the flats providing two bedroom accommodation. A full set of plans, application drawings and the planning permission is available from the auctioneer’s web site.
Tenancies/Lease extension Potential
The existing 30 flats are sold on a range of leases some of which have been extended during our client’s ownership of the freehold. The majority of the flats now have long leases in excess of 100 years however, five of the flats have valuable reversion/ lease extension value and these flats have varying terms of between 51 to 60 years remaining unexpired. A full schedule of the leases, ground rents payable and highlighting those flats with reversionary value is within the legal pack and available to download from the web site.
The current total ground rent is £3,440 per annum. Premiums paid for the most recent lease extensions are:
Flat 5 in 2020 £69,268
Flat 8 in 2021 £70,000
Flat 13 in 2021 £56,875
Flat 28 in 2019 £70,000
Landlord and Tenant Act Notice:
Requisite notices have been served under the landlord and tenant act and the lessees have reserved their rights.
Viewing:
There is limited access available for viewing the roof space. Viewing can be accommodated by personal appointment only and we respectfully request that only those potential buyers who are serious about bidding for this lot request an appointment to view directly with the auctioneers.
Important Notice:
For each Lot, a contract documentation fee of £1,150 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.
1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither sequence (UK) limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.
1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither sequence (UK) limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.
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