Mixed use for sale

Interested parties should contact Knight Frank Auctions for further information.

Description
The property comprises a vacant office/studio arranged over lower ground, ground and first floors of a mixed-use building, totalling approximately 154.4 sq m (1,662 sq ft) GIA. The property can be accessed directly off Union Road at both ground and lower ground floor levels (via a gated stairwell). There is also a south-facing terrace and refuse storage area at lower ground level, shared between 2 and 4 Union Road. The property also benefits from its own locked refuse store at ground floor level. In addition, there is a communal gated courtyard and seating area to the rear of the property.

FLOOR AREAS (GIA)

Lower Ground 41.8 sq m (450 sq ft)
Ground 39.9 sq m (430 sq ft)
First 77.0 sq m (829 sq ft)

Total 159 sq m (1,712 sq ft)

PLANNING (1)

An application for prior approval was submitted to Lambeth Borough Council on 29 January 2024 for the change of use from (Use class E) to the basement, ground floor and first floor into a three-bed apartment (use class C3)' (Reference: 24/00301/P3MA).
The proposed plans would create no additional floor area.

The prior approval of the Local Planning Authority is granted via a letter dated 24th March 2024. However, the Vendor is still waiting on the documentation giving formal approval to the change of use.

TENURE

Leasehold - Held from Notting Hill Genesis for a Term of 250 years from 01/12/2015. (Approximately 241 years unexpired) at a Ground Rent of £300 pa.

TENANCY

Vacant.

VAT

VAT is applicable

EPC RATING A

VIEWINGS by appointment only please contact [use Contact Agent Button]

Location
The property benefits from a wide range of public transport facilities and is situated equidistant (0.3 miles) from both Stockwell and Clapham North underground stations, providing the Victoria and Northern lines, with Clapham High Street just 0.4 miles south and further providing the London Overground. There are also numerous local bus routes nearby, offering convenient access into central and outer London.

Union Road is located just off the A3 Clapham Road which runs from Elephant and Castle in the north and joins the A24, and subsequently the M25 Orbital, in the south.

The address is largely mixed-use with an abundance of amenities and leisure facilities nearby, as well as in the neighbouring areas of Clapham and Brixton. The green open spaces of Clapham Common, Battersea and Brockwell Parks are all within walking distance from the property.

Tenancies
Vacant

Tenure
Leasehold

The buyers fee is including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property.

Auction Details
The sale of this property will take place on the stated date by way of and is being sold as Unconditional.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to the Common Auction Conditions and Extra General Conditions.

Auctioneer Fees and Deposit
The following deposits and non-refundable auctioneer fees apply:

• 10% deposit, subject to a minimum of £5,000. The deposit contributes to the purchase price.
• Buyer’s Fee- the value of this fee will be listed against the property details, inclusive of VAT.

The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees contained within the Special Conditions of Sale, which can be viewed within the Legal Pack. You are strongly advised to read the Legal Pack carefully before bidding.

Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.