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Lot 11Sold: £130,000

ATM at 3 Metro Central Heights, 119 Newington Causeway, Elephant & Castle, London SE1 6BA

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Lot 11 details

(GROSS YIELD 13.3%)
6 Week completion

SITUATION

Located in this busy and well known position, between Nandos and Betfred within a substantial building which includes 7 stories of residential accommodation above.

Elephant & Castle Underground Station (Northern & Bakerloo Lines) is opposite and The University of Arts London, Elephant & Castle Shopping Centre and the Railway Station are also all within close proximity.

Southwark Council is currently undergoing a £3bn regeneration programme to bring a landmark redevelopment to Elephant & Castle designed to create a major new town centre with around 3,000 new homes.

PROPERTY

Forming a small section of the ground floor of a substantial commercial and residential block currently being used as an Automated Teller Machine (ATM).

ACCOMMODATION

Width 9'4” 1
Depth 5'10” 1
Height 15'3” 1

1 Approximate measurements provided by Vendor

VAT is applicable to this Lot

TENURE

Leasehold for a term of 999 years (less 10 days) from 25th March 1999 at a peppercorn.

TENANCY

Enquire about this lot:

Photo of JOHN BARNETT

John Barnett
020 8492 9449
jbarnett@barnettross.co.uk

Photo of NICHOLAS LEIGH

Nicholas Leigh
020 8492 9449
nleigh@barnettross.co.uk

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Buyer or Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £750 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.