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For Sale By Auction | 12:00, 02 June 2017 | Lot 19

151 Stoke Newington High Street, Stoke Newington, London, N16 0NY

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*Guide | £1,050,000+ (plus fees)

  • Flat
  • Tenure: Freehold

Call the team on 020 7625 9007 for more information

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Auction Date

Fri 02/06/2017

Auction Time

12:00

Auction Venue

London Marriott Hotel Regents Park, 128 King Henry’s Road, London, NW3 3ST

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A Commercial Investment and Residential Redevelopment Opportunity to Retain Existing Shop and Convert Existing Ancillary Accommodation to Create Five Self-Contained Flats. The Shop is Let Producing £24,000 per annum.

The property comprises a mid-terrace building arranged over ground and two upper floors currently arranged as a ground floor shop with four rear ground floor units and two partially built flats to the first and second floors.

Tenure

Freehold

The Residential Element Could be Available to Purchase Separately

Location

The property is situated in the popular North London area of Stoke Newington and occupies a prominent position on the high street. Nearby multiples include Tesco Express, Santander, Sainsbury's Local and numerous established local traders. Transport links are provided by both Stoke Newington and Rectory Road overground stations.

Accommodation

Ground Floor Shop Area Four Separate Rear Units First Floor Flat Three Rooms Second Floor Flat Three Rooms

Tenancy

The ground floor shop is let on a 12 year FRI Lease commencing December 2016. Reviews every 3 years.

Planning

Pre-application plans have been drawn up and will be submitted to Hackney Council for the proposed conversion of the existing rear units and upper floors to provide five self-contained flats (4 x 1 Bed, 1 x 2 Bed). Drawings available at request.

Lot Type

Redevelopment

Viewing Details

Open House Viewings: Thursday 18th May 13:30-14:00 Monday 22nd May 13:30-14:00 Thursday 25th May 13:00-13:30 Tuesday 30th May 13:00-13:30 Thursday 1st June 13:00-13:30 Thursday 8th June 14.00-14.30

Vendor Entry Fee Invoice Number

17297

Addendum

Amended Guide Price - £1,050,000+

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Important Notice to Prospective Buyers:

We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

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Price Information

*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 during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Additional Fees Information

Please be aware there may be additional fees payable on top of the final sale price. These include and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.