Auction House / North West
  • For Sale By Unconditional Online Auction
  • Guide Price* : £200,000
  • Auction Ended 14/02/2023

Ground and Upper Ground Floor Offices, Creative... 124 Prince of Wales Drive, Battersea, SW8 4BJ

Online auction 14th February 2023

Description

Online auction 14th February 2023

Ground and Upper Ground Floor Offices – Now Understood To Be Used As Residential

***To be sold on behalf of Lender Not in Possession – No access available and no viewings are possible***
Description
Not inspected by Auction House, however, understood to comprise (originally) ground floor and mezzanine offices within a seven-storey detached building.
We are informed that the property originally provided ground floor and upper ground floor offices situated at the front of the building, these are now believed to be incorporated in to Flats 17 & 18 at ground level (providing bedrooms) and at mezzanine level incorporated into flats 71 and 72 (providing reception / lounge / kitchen areas).
It would appear that no planning or building regulation approval has been given to incorporate the offices into the flats.

The property is to be sold as is.

1. The property being sold includes the superior leasehold interest (Title Number: TGL338375) and the sub-leasehold interest of the ground floor office (Title Number: TGL363059). Those interests will be subject to the remaining sub-leasehold interest regarding Flat 17 and Flat 18 (Leasehold Title Numbers: TGL363057 and TGL363058). Those interests will be subject to the remaining sub-leasehold interests regarding Flat 17 and Flat 18 (Leasehold Title Numbers TGL363057 and TGL363058 and subject to any tenancy or other occupation of whatever nature that may exist as at the date of completion

2. In relation to the Superior Lease (Title Number: TGL338375), granted for a term of 999 years from 2 July 2010 but after a series of variations, the ground rent is as follows:

a){tab}£1,200 for the period 2 July 2010 to 23 June 2031.
b){tab}£1,800 for the period 24 June 2031 to 23 June 2056.
c){tab}£3,000 for the period 24 June 2056 to 23 June 2081.
d){tab}£6,000 for the period 24 June 2081 for the remainder of the term.

3. In relation to the Lease of the ground floor office (Title Number: TGL363059), the Lease was granted for a term of 150 years from 27 April 2012 but again after a variation the ground rent is as follows:

a){tab}£400 for the period 27 April 2012 to 23 June 2031.
b){tab}£600 for the period 24 June 2031 to 23 June 2056.
c){tab}£1,000 for the period 24 June 2056 to 23 June 2081.
d){tab}£2,000 for the period 24 June 2081 for the remainder of the term.

We understand that it is the freeholders intention to forfeit the lease, please refer to LPE1 form in the legal pack.

Please refer to the legal pack.

Finance is available on this lot. For a decision-in-principle visit togethermoney.com/amydip/

ANTI-MONEY LAUNDERING REGULATIONS
In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

Every effort has been made to confirm the accuracy of the lot details including any defect in the title both with the vendor and their solicitor. Auction House will not be held responsible for any failure to disclose any such defects.

Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars.

Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.

Accommodation We have taken the following Net Internal Floor Areas form historic VOA figures: -
Lower ground floor office 88.39m2
Ground floor office 103.25m2
Total 191.64m2 / 2,063 sq.ft.
Location The property is situated in a mixed commercial and residential location in the Battersea District of South West London in the borough of Wandsworth, close to Battersea Power Station, Battersea Dogs and Cats Home and Battersea Park. Battersea Park Station is within 200 m giving direct access to central London (Victoria).
Note We are informed that the following issues require resolution:
• Enforcement Notices have been served relating to unauthorised change of use from residential use (C3) to short term lets (C1) but it is not clear if works have been undertaken to satisfy these Notices.
• Section 235 notice has been served on the freeholder
• Prohibition notice served by London fire brigade dated 20th June 2022, stating that the building is blighted by the following: i) Inadequate means of escape (ii) inadequate fire protection for the means of escape (iii) Escape routes blocked / obstructed by combustible material.
• Planning and Building Regulation approval / consent – Does not appear to have been obtained for the conversion of the offices to two x flats.
• No EWS1 available
It is understood that the extent of the flats mentioned may not reflect the extent as referred to in the title documents.
Tenure
The vendor is selling the superior leasehold interest (title number TGL338375) of the ground floor, subject to the three subleases and the sub lease of the ground floor office (title number TGL363059).
Tenancy Unknown terms, other than that the property is understood to be subject to a disputed 5 year lease dated 13 December 2013 granted by the registered proprietor to Luxap Limited. The buyer will take the property subject to the rights, obligations and liabilities, if any, arising thereunder or in respect of any other tenancy or occupation that may exist.

Tenure: Leasehold

EPC Rating: C & C

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.

Buyers Premium

Buyer's Premium - 1.2% inc vat of the sale price.

Administration Charge

nil.

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* Guide | £200,000
  • Unconditional (Immediate Exchange)

Call the team on 01772 772450 for more information

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Finance available on this property
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Note

  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. Measurements: 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 AUCTION HOUSE NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.