Lot 1 - 65 Fairholme Road, Croydon, Surrey, CR0 3PJ
- Unconditional Online Auction Sale
- Guide Price* : £250,000 plus
- Residential Investment
- 3 bed room mid-terrace
- Let at an annual equivalent income of £15,000
ON BEHALF OF THE COURT APPOINTED RECEIVER: Residential investment comprising a 3 bedroom mid-terrace house let at £1250 per month (£15,000 gross annual equivalent)
Description
The property comprises a 3 bedroom mid-terrace house. It will be sold with a tenant in situ who occupies under the terms of a periodic monthly tenancy following expiry of an ADT granted for 12 months from 12th August 2016 at rent of £1250. The property needs refurbishment and modernisation. The Council has served a Notice under the Housing Act 2004, Section 11 and 12 on the previous owner we believe in June 2021 and a copy is in the Legal Pack. The Receivers since then have obtained a GSC, installed smoke & CO2 alarms, and an EICR.
The property is of two storey brick construction with a bay window to the ground floor and incorporates uPVC double glazed windows throughout. The roof is pitched and covered with slates.
Internally, the ground floor provides a living room, dining room/further reception room, a kitchen and a WC/shower room. The first floor provides three bedrooms and a bathroom.
Location
The property lies within an established suburban residential location, within Croydon. The town centre is approximately 0.75 mile to the south and the centre of London is approximately 9 miles to the north.
The nearest railway station lies approximately 0.5 mile to the south and is West Croydon, being s a combined railway, bus station and tram stop in Croydon, south London. It is served by National Rail, London Overground, Tramlink and London Buses services and is in Travelcard Zone 5.
Road communications are good, with nearby the A23 which is the main arterial route north to Streatham and Brixton beyond. Local bus routes can be accessed on London Road, which Fairholm Road intersects 200m to the east. Junction 7 of the M25 and Junction 8 of the M23 are approximately 8.5 miles to the south.
National multiple retail facilities can be accessed in Croydon town centre and in addition the Valley Park Retail Centre is within 0.5 mile, with amongst others provides an Ikea, Dunelm and Vue Cinema.
Tenure
Freehold.
Accommodation
The property has the following approximate internal areas:
Ground Floor: 36 sq. m (387 sq. ft.)
First Floor: 33 sq. m (355 sq. ft)
Outside
There is a small forecourt front garden, together with a larger rear garden that has a lawn and an area of concrete hardstanding.
Tenancies
The property is currently occupied and we understand the tenant has a statutory periodic monthly tenancy at a rent of £1,250 per month following the expiry of an AST granted for 12 months from 12th August 2016. There are no rent arrears (as at 9th February 2022). The Receivers do not have a full copy of the AST.
EPC
Energy Asset Rating is D.
Buyers Administration Fee
There will be a Buyer's Administration Fee of £2,700 (inc VAT) payable upon exchange of contracts.Additional Information
1. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.
2. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.
3. The property is being sold under Proceeds of Crime legislation. Please see Legal Pack for further details.
* 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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