Property description

For sale by auction: The auction guide price range is £550,000 to £950,000. A new build development opportunity, with planning granted (London Borough of Merton 20/P1091) for an 8-apartment mews style scheme, offering a selection of one, two and three bedrooms units. Each apartment is designed to offer spacious and light accommodation making them very attractive to future buyers along with the benefit of either a garden or balcony. Situated in this popular residential location is conveniently located within walking distance of Morden (Northern line) underground station & South Merton mainline station. Also benefitting from a good range of nearby independent shops as well as a number of supermarkets, pubs and restaurants nearby & the open expanses of Morden Park.

Auctioneer's comments: "This new build development site offers potential for developers to create a superb mews of 8-apartments, the planning has been granted and the profit is there to be made by the winning bidder"

Auction Date

To be sold by public auction via a 2-hour online bidding window on Friday 1 July 2022, bidding will open at 09.00 am and close at 11.00 am.

To View

The site is secure and can be viewed through the fencing. Viewing of the site can be undertaken generally, there will be no access to the land by appointment.

Registration

All bidders are required to register in order to be approved to bid. This can be done via the lot listing on our website via the 'Traditional Auction Lots' page. Once registered you will be able to view and download the legal pack (when available), please note that in order to bid you will need to complete our Credas id check (sent once you register) and have provided a payment card the week of the auction. Only the bidder needs to register, after the auction, the bidder can nominate additional buyers or a company to be the buyer, please note that if the id checks for these nominated persons are not received within 2-hours of the auction, the bidder will be noted as the buyer on the contract.

Description

New build development land, with planning granted (London Borough of Merton 20/P1091) for an 8-apartment mews style scheme, offering a selection of one, two and three bedrooms units.

Proposed Scheme

1. 2 bed 759 ft2 / 70.6m2 garden
2. 3 bed 923 ft2 / 85.8m2 balcony
3. 2 bed 759 ft2/ 70.6m2 garden
4. 3 bed 913 ft2/ 84.9m2 balcony
5. 2 bed 759 ft2/ 70.6m2 garden
6. 3 bed 948 ft2/ 88.1m2 balcony/terrace
7. 1 bed 592 ft2/ 55.1m2 garden
8. 1 bed 511 ft2/ 51.2 m2 garden
Total approx. 6,200ft /576.9m2

Epc Rating

Not applicable

Tenure

Freehold land

Local Authority

London Borough of Merton

Council Tax Band

Not applicable

Legal Pack

For each traditional auction lot there are special conditions of sale and other documentation provided by the sellers’ conveyancer. If you wish to view and download the legal pack, you will need to register an online bidding account via the link on our website. Once you have set up your online bidding account you will receive a notification by email when the legal pack is received from the conveyancer

Guide Prices

Guide Prices are provided as an indication of each seller's minimum expectation. They do not necessarily set the figure that a lot will sell for and may change at any time prior to the auction. Each lot will be offered subject to a reserve, (a figure below which the auctioneer cannot sell the lot during the auction) which will be set within a reasonable bidding range of the stated guide price.

Pre-Auction Bids

These must be made in writing by email and will only be considered when an online bidding account has been set up, including the id confirmation and a payment card uploaded to the account. Pre-auction bids are on the basis of the terms of the auction, this means an immediate exchange of contracts upon acceptance with a 10% deposit as well as the buyer's fee listed.

Auction Fees

A buyer’s fee of £2,500 plus VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.

Online Bidding

In order to bid when the lot opens at 09.00 am on Friday 1 July 2022 you will need to set up your online bidding account through the specific lot on our website under 'Current Auction Lots'. Ensure you read our 'Auction Buying Guide' carefully. In order to be approved to bid you will need to complete your online bidding account, you will need to confirm your id and residency through a Credas link that will be emailed or texted to you, and within a week of the auction you will need to upload a valid payment card and a hold will be placed on the security deposit amount which is £50,000 for this lot (please note that when you win the bidding you are required to pay the 10% deposit and the buyers fee of £2,500 plus VAT, once the £50,000 is taken you will be invoiced by email for the immediate payment of the balance by bacs). Also, note that there is a 1.4% (+20p) transaction fee charged by Stripe which you will pay when invoiced for the balance of the 10% deposit and buyers fee, this will be £700.20.

Method Of Sale

Please note that the method of sale is by auction, with the immediate and unconditional exchange of contracts when the auction ends under the terms of the V4 Common Auction Conditions.
Amenities

New build development

Planning granted for an 8-apartment mews scheme

London Borough of Merton 20/P1091

Total approx. 6,200ft /576.9m2

0.4 miles Morden (Northen line) underground station

0.3 miles to South Merton railway station

3 x 3-bedroom apartments

3 x 2-bedroom apartments

2 x 1-bedroom apartments

Cil liability of £157,224.31