Lot 01 - Development Opportunity The Elms, 1-18b Nicoll Road, London, NW10 9AA

  • Unconditional Online Auction Sale
  • Guide Price* : £100,000+

Freehold development opportunity with planning permission to create 3 x 1 bedroom flats with terraces on the roofspace above an existing residential block of flats with the benefit of the freehold interest generating £1,950 per annum. Close to Willesden Junction station and potential for the creation of additional units (stp).


Description

Situation & Description

This rare development opportunity is situated on the corner of Nicholl Road & Acton Lane and is within close proximity to the High Street which offers a wide selection of independent and national retailers to include: Tesco, Costa Coffee and Superdrug. There is a vast selection of local restaurants and cafes making the area extremely popular with first-time buyers and renters alike.

There are excellent transport links with both Harlesden, Willesden Junction, Bakerloo line and overground stations within 0.4 miles giving direct access to Central London.

The existing building consists of 33 flats all sold on long leases with a total ground rent income of £1,950 per annum. Copies of all leases will be contained in the Legal Pack.

Planning

Planning consent has been granted by Brent District Council on 25th February 2020 for the creation of 3 x self-contained 1 bedroom flats involving the construction of a 4th floor level with terraces and balustrades under application number: 19/3409.

The newly constructed flats will comprise of:

Entrance Hall, open plan Living/Dining/Kitchen, Double Bedroom, Bathroom and Terrace.

Flat 1: 37sqm / 398sqft
Flat 2: 39sqm / 409sqft
Flat 3: 39sqm / 409sqft

Copies of the decision notice and approved plans will be available in the Legal Pack.

Auction Details

The lot is to be sold by online auction on Wednesday 21st July at 4pm (bidding opens on Tuesday 20th July at 12:00pm)

All interested parties who wish to bid, please contact My Auction on 0207 101 4868

Please note that a Buyer’s Premium of 1.2% inc.VAT of the purchase price is to be paid by the successful Buyer subject to a minimum fee of £2,400 (inc of VAT).

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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Sold Prior for £140,000

This auction is now closed.

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