A commercial investment in south east London with planning consent to add nine flats will go under the hammer in Savills’ 1 September sale, guided at £1.9m.
The corner block in Central Catford, SE6 (lot 45) is let to an Admiral betting shop on the ground floor, providing a passing income of £53,000 pa, and has a back commercial unit which is vacant.
The property has planning permission for nine flats across the first, second and third floors, each with a terrace or winter garden.
A total of 127 lots are listed in the catalogue for the remote-bidding auction.
Other lots include:
- A vacant, detached, 13-bedroom, purpose-built learning disabilities unit set in a predominately residential area in Blandford, Dorset (lot 56A). The 14,600 sq ft property with car park and gardens is guided at £1.5m
- A three-bedroom, bay-fronted terraced house in Shepherd’s Bush, W12 (lot 25, main image)
- A mid-terrace house in Battersea, SW11, (lot 106), in need of complete modernisation, guided at £1.1m
Lot 106 - A vacant ground floor shop and basement with upper floors offering development potential in Wandsworth, SW11 (lot 11), guided at £925,000
Lot 11 - A NatWest bank branch in Redhill, Surrey, producing £79,000 pa and guided at £725,000 (lot 54), offering long-term potential for conversion of the upper floors
- A house in Colchester arranged as eight flats, with seven let on ASTs and one vacant, and a separate house to the rear let on an AST (lot 83). The investment produces £55,680 pa. It sits on a 0.23-acre corner site offering possible new-build development potential, and is guided at £700,000.
Lot 83
Chris Coleman-Smith, head of Savills auctions, said: “What’s been clear from recent sales is that the demand is there across the board, from buyers beginning to build their investment portfolios through to others looking for a significant opportunity.
“Owner-occupier demand still remains strong – there’s some really appealing stock for buyers looking for somewhere to do up in popular suburbs and commuter locations. There also seems to be an uplift in interest from those looking for buy-to-let properties, and there’s a good number of lots that fit this brief which will be up for sale.
“With people back from their summer breaks, we expect the confidence we have seen from the market to continue through into this sale.”
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