Property Auctions 18/May/2022 | 3 Weaver Walk, Norwood, London, SE27 0AH

Freehold Inner London Light Industrial Investment

Rare Freehold Opportunity with immediate asset management opportunities
Close proximity to West Norwood Railway Station some 450m to the north
Currently comprising approximately 1,415.27 sq. m. (15,234 sq. ft.) of accommodation on a site of 0.10 Ha (0.25 acres)
Positive mix of light industrial and residential accommodation in the surrounding area
Excellent transport links via road with the A23 and A205 (South Circular) in close proximity
The property could be suitable for alternative uses (subject to necessary consents)

Lot 11
Auction 18th May 2022
Rent £91,200 per Annum
Status Sold
Price £2,020,000
Sector
Industrial, Warehouse
Auction Venue
Live Streamed Auction
On the Instructions of Joint LPA Receivers

Property Information

Location

Miles: 1.5 miles south-west of Dulwich Village; 5 miles south-east of Central London
Roads: A23, A205 (South Circular)
Rail: West Norwood (450m)
Air: London Gatwick, London Heathrow, London City

Situation

West Norwood is in the London Borough of Lambeth and is approximately 5 miles south of Central London with the well known Dulwich Village some 2 miles to the east. The property is located on the west side of Weaver Walk and forms part of a larger light industrial estate which includes occupiers such as Big Yellow Storage, Arriva Bus Garage and Kwik-Fit. The surrounding area beyond this is predominantly residential with a large number of local retail providers. The property benefits from West Norwood Railway Station which is some 450 meters to the north and provides direct access to London Victoria (21 minute journey time) and London Bridge (23 minute journey time).

Tenure

Freehold.

Location

Miles: 1.5 miles south-west of Dulwich Village; 5 miles south-east of Central London
Roads: A23, A205 (South Circular)
Rail: West Norwood (450m)
Air: London Gatwick, London Heathrow, London City

Situation

West Norwood is in the London Borough of Lambeth and is approximately 5 miles south of Central London with the well known Dulwich Village some 2 miles to the east. The property is located on the west side of Weaver Walk and forms part of a larger light industrial estate which includes occupiers such as Big Yellow Storage, Arriva Bus Garage and Kwik-Fit. The surrounding area beyond this is predominantly residential with a large number of local retail providers. The property benefits from West Norwood Railway Station which is some 450 meters to the north and provides direct access to London Victoria (21 minute journey time) and London Bridge (23 minute journey time).

Tenure

Freehold.

Description

The property was originally constructed as a two storey light industrial unit and has been redesigned to accommodate a diverse range of facilities including two large halls on ground and first floors, a sound recording studio on first floor and a number of office suites on ground and first. The ground floor provides approximately 731.13 sq. m. (7,870 sq. ft.) and the first floor provides approximately 684.14 sq. m. (7,364 sq. ft.) which combines to provide a total of 1,415.27 sq. m. (15,234 sq. ft.). The property is currently being used for the purposes of Church Worship and other activities within Use Class D1 of the Town and Country Planning (Use Classes) Order 2010.

A water-mains leak led to a ground floor flood in 2021 and has caused damage. Please refer to the legal pack for further information.

VAT

VAT is not applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.

Completion Period

6 Week Completion available.

EPC

Available within the Legal Pack.

Description

The property was originally constructed as a two storey light industrial unit and has been redesigned to accommodate a diverse range of facilities including two large halls on ground and first floors, a sound recording studio on first floor and a number of office suites on ground and first. The ground floor provides approximately 731.13 sq. m. (7,870 sq. ft.) and the first floor provides approximately 684.14 sq. m. (7,364 sq. ft.) which combines to provide a total of 1,415.27 sq. m. (15,234 sq. ft.). The property is currently being used for the purposes of Church Worship and other activities within Use Class D1 of the Town and Country Planning (Use Classes) Order 2010.

A water-mains leak led to a ground floor flood in 2021 and has caused damage. Please refer to the legal pack for further information.

VAT

VAT is not applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.

Completion Period

6 Week Completion available.

EPC

Available within the Legal Pack.

Tenancy & Accommodation

Property	Date	Parties	Rent per annum	Term
Ground floor part and First floor part	01/05/2015	The Lords Church (1)	£43,200	A term of years from 1 May 2015
First floor part	01/03/2015	Word of Faith Missions (1)	£30,000	A term of years from 1 March 2015
First floor part	08/04/2019	Christ Triumphant Outreach Ministries (1)	£18,000	60 calendar months (5 years) from 8 March 2019
Total			£91,200

(1) The tenancy documents include termination provisions exercisable by either party, however no warranty is given as to the validity of these provisions and the buyer must rely on their own investigations and legal advice in this regard. Please refer to the Legal Pack for further information.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.