0 bed Block of flats (for sale) Swanne House, 31 Royal Hill, Greenwich SE10

£7,000,000
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Allsop LLP
33 Wigmore Street, West End, London
020 3641 1750
First Published

9th Mar 2019

Last Published

25th Apr 2019

 

Features

  • Type: Block of flats
  • Bedrooms: 0
  • Listing status: sale
  • Country:

Description

Lot 35 - This lot is for sale by auction as lot 35 on Thursday 28th March 2019.

A Freehold Purpose Built Block

- Comprising 18 x Three Bedroom Self-Contained Flats
- One Flat, Garage/Bin Area and Electricity Sub-Station each subject to a Long Lease
- Seventeen Flats Vacant
- Total Net Saleable Area 1,360 sq m (14,637 sq ft)
- Off-Street Parking
- Possible Development potential (Roof Spaces, Undercroft Area), subject to all necessary consents being obtained
- Located close to Greenwich Rail Station and DLR
- Possibility to acquire UK Corporate entity. Please refer to the legal documents for further informationEIGHT week completion available

Majority Vacant

Tenure
Freehold.

Location
Greenwich is a world famous town and destination benefiting from one million overnight stays in 2017. It is best known for the Meridian Line, The Cutty Sark, The Royal Observatory, The National Maritime Museum, The Old Royal Naval College, Greewich Market, Greenwich Park and the O2 Arena. Swanne House is ideally located fronting the prestigious Gloucester Circus private garden in the heart of the historic West Greenwich Conservation Area and just a stone’s throw from Greenwich Park and The River Thames. Connectivity is excellent, with Greenwich Rail Station (London Bridge 8 minutes, London Blackfriars 17 minutes, London Cannon Street 14 minutes) and Docklands Light Railway Station (Cutty Sark) 300 metres and 400 metres away respectively. The Jubilee Line (Bond Street 21 minutes) is also available a short bus ride to the north at North Greenwich Station beside the O2 Arena. The area is also home to The University of Greenwich, which is attended by 20,000 students with its main campus located in the former Royal Naval College close by.

Description
Swanne House is a 1970s built l-shaped purpose built block arranged over lower ground and four upper floors. The building comprises 18 x three bedroom self-contained duplexes, with nine duplexes being arranged over the first and second floors and nine duplexes over the third and fourth floors of the building. Swanne House benefits from off-street parking which is accessed via Royal Hill. There is additional on-street parking on Gloucester Circus.

Tenancies and Leases
One flat is subject to a 125 year long leasehold interest from 3rd July 2002 at a current ground rent of £1 per annum. The garage/bin area on the lower ground floor is subject to a lease for a term of 999 years from 4th March 2019 at a peppercorn ground rent. The electricity sub-station is subject to a lease in favour of London Power Networks llp for a term of 60 years from 1st April 1960 (thus having approximately 1 year unexpired) at a ground rent of £2 per annum.The remaining flats are vacant.

Development Potential
Local Planning Authority: Royal Borough of Greenwich.Tel: The property is not listed, but is situated in the West Greenwich Conservation Area. Subject to obtaining all necessary consents, it may be possible that the ground floor undercroft areas could be reconfigured to comprise four studios and additional residential floor space could be developed within a mansard roof.

To View
The property will be open for viewing every Tuesday and Thursday before the Auction between 10.30 – 11.30 a.M. These are open viewing times with no need to register. (Ref: Jh).

Guide Prices. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller might be prepared to sell on the date on which the guide price, or range of prices, is published. The reserve price is the minimum price at which the property can be sold. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. All guide prices are quoted 'subject to contract'. The latest published guide price, or range of prices, are displayed on our website. The latest published guide, or range of prices, will normally be at or above any reserve price. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any lot may exceed the previously quoted guide price - as the seller may fix the final reserve price just before bidding commences. If a guide price is listed as 'tba', it means that there is no guide price at present - please do not call our office. The guide price, or range of prices, will be published online immediately it becomes available at: Please check regularly for updates. Lots may be sold or withdrawn prior to auction.

 

Local info for SE10

 

Property Value Data/Graphs for SE10

Property Type % Avg. current value Avg. # beds Avg. # bathrooms
Flat 83.5% £523,943 1.8 1
Terraced house 3.9% £934,421 3.3 0.8
Other 3.5% £1,114,438 3 0.7
Town house 2% £910,500 3.1 0.2
Maisonette 1.8% £625,552 2.9 1.8
End terrace house 1.8% £924,883 3.2 1.1
Semi-detached house 1.6% £1,368,750 4.5 1.6
Studio 1.4% £377,143 0 0.6
Detached house 0.2% £750,000 3 1
Mews house 0.2% £705,000 3 3

Area Information

Average Price Paid

£540,038

Sales

4823

Current Average Value

£589,723

Value Change

£49,685 9.2%

 

Current Asking Prices in SE10 Average: £589,723

Property Type 1 Bed 2 Beds 3 Beds 4 Beds 5 Beds
Houses - £633,607 (14) £802,302 (23) £1,355,235 (21) £1,535,714 (7)
Flats £390,527 (150) £535,826 (196) £771,400 (71) £866,667 (3) -
All £390,527 (150) £542,345 (210) £778,961 (94) £1,294,164 (24) £1,535,714 (7)

Nearby Properties

5 bed Terraced house () Humberstone Road, Plaistow, London E13 £510,000
3 bed Terraced house () Charnwood Drive, London E18 £436,000
2 bed Flat () Diana Close, London E18 £205,000
3 bed Terraced house () Warwick Road, Stratford, London E15 £380,000
2 bed End terrace house () Dalmally Road, Croydon, Surrey CR0 £264,500
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