• Freehold Sale of Whole, Data Room - Click here.

• Freehold Subject to Long Lease of Basement, Data Room - Click here.

• Long Lease of Basement, Data Room - Click here.

• Located in an affluent London location

• Property built in 2018

• Freehold

• Attractive terrace at the second floor

• Residential element let on an AST generating £36,000 pa

• Office element let on a licence generating £24,000 pa

• Total passing rent of £60,000

• Opportunity to convert the office to residential use, subject to planning permission

• Opportunity to purchase the office or the residential element independently

• Offers strictly in excess of £1,000,000 for the whole property, subject to contract.

• Offers strictly in excess of £800,000 for the residential element

• Offers strictly in excess of £200,000 for the office element

• Price reflects an overall capital value of £533 per sq ft / £5,747 per sq m including the terrace and £692 per sq ft / £7,463 per sq m excluding the terrace

• On behalf of Receivers, acting as agent without personal liability

The property is situated in a predominantly residential area off Clapham Road on the fringes of the Nine Elms redevelopment area.

Richborne Terrace benefits from being closed to through traffic and being close to various amenities including the Dorset Off Licence, Brixton Road Post Office and The Fentiman Arms.

Some nearby attractions include Oval Cricket Ground, Kennington Park and Vauxhall Park.
Oval underground station (Northern Line) is approximately 500 metres from the property. Stockwell underground station (Victoria Line) is 0.6 miles (1 km) from the property.

Local bus services provide quick and easy access into the City, West End and Canary Wharf.
The immediate vicinity appeals to many types of residents including professionals, young couples and students, to name a few.

1 Richborne Terrace comprises an open plan self-contained office at lower ground level with a kitchen and WC. This element is accessed from the right of the property.

1A Richborne Terrace comprises a two-bedroom mews style house arranged over ground, first floor and a roof terrace at second floor level. There is an open plan living dining and kitchen area, a utility room and WC at the ground floor, two bedrooms and a bathroom on the first floor and a roof terrace on the second floor.

The property was built in 2018.

Freehold.

1 Richborne Terrace (office) is let on a licence to a limited company on a three-monthly rolling term at a rent of £30,000 per annum. We are advised that the tenant has been granted a concession, reducing the rent to £24,000 per annum.

1A Richborne Terrace (house) is let on an AST for a term of one year from 1st May 2020, expiring 30th April 2021 at a rent of £36,000 per annum (£3,000 per month). Therefore, the tenant is holding over.

Therefore, the total passing rent is £60,000 per annum.

We understand that the property has not been registered for VAT and therefore VAT is not be applicable on the purchase price.  

1. Opportunity to purchase a property in a regeneration location

2. New property built in 2018

3. Residential element and office element can be purchased individually

4. Freehold

5. Spacious terrace on the second floor

6. Opportunity to repurpose the office element to residential use, subject to planning

7. Attractive lot size to an investor

• Attention is drawn to the fact that access to all areas of the property may not be possible prior to completion

• Replies to standard enquiries will not be provided as part of the conveyancing process

• The property will be sold as seen. No express or implied warranties or representations are given.

• Any prospective owner must be prepared to undertake asset management initiatives to regularise the basis upon which any commercial and residential occupants remain in situ.

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