Residential Investment/ Development opportunities

Transcription

1 Residential Investment/ Development opportunities Flats 9-11 Lawford Road, Kentish Town, NW5 2LH Flats 17 a-c Old Park Avenue, Clapham, Wandsworth SW12 8RH Flats 1-12 Rennets Wood House, Greenwich, London SE9 2NE Available as a whole or as three separate lots Knight Frank

2 Residential Investment/Development opportunities Freehold investments offered for sale by informal tender Located in Camden, Clapham and Greenwich Portfolio comprises a total of 18 flats (16 flats are offered with vacant possession) with gardens Excellent investment opportunities with development potential (subject to consents and vacant possession) Folio 1 Unit Floor Status Bedrooms Area Sq m Area Sq ft GIA (including circulation space) Flat 9 G/f vacant Flat 10 1st balcony vacant Flat 11 2nd balcony vacant , ,870 Folio 1 Flats 9-11 Lawford Road, Kentish Town, NW5 2LH The property is located on Lawford Road in Kentish Town within the London Borough of Camden. The property is situated off Kentish Town Road and is a five minute walk from Kentish Town tube station which is served by both the Northern Line and First Capital Connect. Kentish Town is also served by the C2 and 214 bus routes which stop at Kings Cross St Pancras Station and terminate at Victoria and Liverpool Street respectively. The area around Lawford Road is one of the most soughtafter in Kentish Town, being in the catchment area of the Camden School for Girls. It is also in close proximity to numerous bars and restaurants, music venues and other amenities of Kentish Town, as well as being within walking distance of Hampstead Heath, approximately one mile to the north. Lawford Road Freehold offered with vacant possession Site area acres (0.047 ha) Garden to the rear; storage sheds London Borough of Camden Council tax band D 09/10 1, Located within a Conservation Area

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4 Folio 2 Flats 17 a-c Old Park Avenue, Clapham, Wandsworth SW12 8RH The property is located in a site of former bomb damage on Old Park Avenue - an attractive tree lined road of red brick Edwardian semi-detached houses, located between Clapham Common and Wandsworth Common. Old Park Avenue is a five minute walk from Clapham South tube station which is served by the Northern Line. The property is also close to the shops and amenities of the Clapham South area which is perennially popular with young professionals seeking to rent or buy. Freehold offered with vacant possession Site Area acres (0.045 ha) Garden to the rear London Borough of Wandsworth; Council tax band D 09/ Located within a Conservation Area Folio 2 Unit Floor Status Bedrooms Area Sq m Area Sq ft GIA (including circulation space) Flat 17a G/f vacant ,068 Flat 17b 1st vacant ,029 Flat 17c 2nd vacant , , ,126

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6 Folio 3 Flats 1-12 Rennets Wood House, Greenwich, London SE9 2NE The property is located in Eltham in the London Borough of Greenwich close to its border with Bexley. The property fronts Bexley Road with return frontage onto Rennets Wood Road. Bexley Road has connections to the A2 which accesses both Central London and Kent. The nearest railway station is Falconwood, located 1.0 mile to the north with services into Cannon Street, Charing Cross or Victoria in approximately 30 minutes. Folio 3 Unit Floor Status Bedrooms Area Sq m Area Sq ft 1 G/f Vacant G/f Vacant st balcony Vacant st balcony Vacant nd balcony Vacant nd balcony SOLD G/f Vacant G/f Vacant st balcony Vacant st Vacant nd balcony SOLD nd Vacant ,874 Freehold offered subject to two leases Site area acres (0.208 ha) Ten flats are offered with full vacant possession Two flats sold on long leases (no. 6 and 11) of 133 years and 43 years Large garden and storage sheds to the rear London Borough of Greenwich; Council tax band B 09/10 1, Full details provided on the dedicated website (see over) Total Areas (GIA) Floor Sq M Sq ft Ground ,407 First ,407 Second ,407 Total ,220

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8 Summary The subject portfolio consists of three blocks of flats in Camden, Clapham and Greenwich. The blocks are being sold by the Metropolitan Police Authority (MPA) with the freehold interest being offered for all three blocks. The flats were constructed in the 1960s and are generally two or three bedroom flats with outdoor space. The flats are in basic condition and will require refurbishment. Lawford Road and Old Park Avenue are offered freehold with vacant possession. Rennets Wood House is held on a long lease from the Crown Estate with the freehold and long leasehold interest being offered simultaneously to purchasers by both the Metropolitan Police Authority and Crown Estate, subject to the two long leases. Title and Tenure All pertinent legal information is available on the dedicated website. The properties are sold subject to and/or with the benefit of any rights of way, easements or restrictions, which may exist, whether or not mentioned in these particulars. Fixtures and fittings Any items of furniture or other items left in any of the flats will become the responsibility of the purchaser on completion. Services It is our understanding that mains water, electricity, gas and drainage are provided. However, it is the responsibility of the purchaser to ensure that services are available and adequate for the properties. EPCs EPCs are available on the dedicated website. Floorplans Floorplans of all the properties are available on the dedicated website together with a schedule of areas. Inspection The properties may be inspected by prior appointment through the Vendor s selling agents, Knight Frank LLP. Prospective purchasers should be aware that inspections are made entirely at their own risk and no liability is accepted by the vendor or their agent. Method of Sale The portfolio is for sale as a whole or as individual lots. The freehold interests are offered for sale by informal tender. Interested purchasers will be required to complete a bid form, which can be found on the dedicated website. Please refer to the dedicated website for information on the method of sale and bidding procedure. It is essential that the tender procedure is strictly followed, to ensure that your bid is compliant. Forward Sale Clawback The sale contract will include a forward sale clawback awarding 50% of any uplift to be paid to the MPA if the individual lots or the portfolio as a whole (but not any individual flats) is sold within 5 years without planning permission. If a site is sold on with planning permission then the clawback will be 50% of the uplift in the site value at the date of the sale discounting any increase in value due to the planning permission or capital improvement to the property. Tender Procedure The bid form must be received at these offices by noon on Tuesday the 20th April The bids will be sent unopened to the Metropolitan Police Authority immediately after this time. Late bids will not be accepted. Bids should be delivered by post (preferably registered) or hand delivered to the vendor s selling agent: Knight Frank LLP 55 Baker Street, London W1U 8AN Marked for the attention of Sophie Linton i. Wording on the envelope All bids should be sealed and marked Met Police Tender in the top left hand corner of the envelope but there should be absolutely no markings which could identify the bidder. ii. Opening Procedure All bids received will be sent unopened to the Metropolitan Police Authority s Procurement Department for opening and logging. If the bids are not received in the correct format, or by the deadline above, they may be invalidated as being non-compliant. Please note faxed or ed bids will not be accepted, even if these are received before the deadline. iii. Purchaser Notice The vendor, in its absolute discretion, does not undertake to accept the highest or any offer received. Further Information Please visit our website: Password: bravo Contact Mark Clegg MRICS Residential Investments +44 (0) mark.clegg@knightfrank.com Sophie Linton MA MRICS Institutional Consultancy +44 (0) sophie.linton@knightfrank.com Baker Street, London. W1U 8AN mark.clegg@knightfrank.com Important notice 1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing ( information ) as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT: The VAT position relating to the property may change without notice. Particulars dated: February Photographs dated: December Knight Frank LLP is a limited liability partnership registered in England with registered number OC Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members names.