A set of scaled floor plans are available to download from the downloads section.
We understand that the property provides the following gross internal area.
|1 Richborne Terrace - Residential||Sq.M||Sq.Ft|
|Second Floor Terrace||40||430|
|Total Excluding Terrace||87||940|
|Total Including Terrace||127||1,370|
|1A Richborne Terrace – Office|
The property provides a total gross internal area of 134 sq m / 1,445 sq ft excluding the terrace and 174 sq m / 1,875 sq ft including the terrace.
1 Richborne Terrace (office) is let on a licence to a limited company on a three-monthly rolling term at a rent of £30,000 per annum. We are advised that the tenant has been granted a concession, reducing the rent to £24,000 per annum.
1A Richborne Terrace (house) is let on an AST for a term of one year from 1st May 2020, expiring 30th April 2021 at a rent of £36,000 per annum (£3,000 per month). Therefore, the tenant is holding over.
Therefore, the total passing rent is £60,000 per annum.
Residential Sales and Letting Evidence
|Residential Evidence Sales|
|6B Richborne Terrace||30/08/2022||£935,000||1443||£648||3|
|7 Richborne Terrace||17/02/2022||£945,000||1222||£773||3|
|2 Palfrey Place||18/06/2021||£900,000||1065||£845||2|
|4C Richborne Terrace||11/06/2021||£880,000||1568||£561||3|
|20 Meadow Road||30/09/2021||£899,950||1130||£796||2|
|Residential Evidence Lettings|
Office Sales and Letting Evidence
|Office Sales Evidence|
|Address||Tenure||Date||Sq.Ft||Rent||Price||Net Initial Yield||Price PSF|
|81-83 Lambeth Walk||Leasehold||Jan-22||493||Vacant||£245,000||-||£496.96|
|28 Lower Marsh||Freehold||Dec-21||1,509||Vacant||£865,000||-||£573.23|
|12 Steedman Street||Leasehold||Sep-21||1,765||Vacant||£936,000||-||£530.31|
|165 Camberwell Road||Freehold||Sep-21||188||£6,580||£127,000||5.10%||£675.53|
|Office Letting Evidence|
|Address||Date||Sq.Ft||Rent PA||Rent PSF|
|1-8 Artichoke Place||Jul-22||546||£14,500||£26.56|
|1-8 Camberwell Green||Feb-22||678||£12,688||£18.71|
|243-245 Kennington Lane||Sep-21||397||£9,984||£25.15|
|1-6 Bedlam Mews||Jul-21||775||£20,020||£25.83|
We understand that the property has not been registered for VAT and therefore VAT is not be applicable on the purchase price.
We are instructed to seek offers in excess of £1,000,000 (One Million Pounds), subject to contract.
This price reflects an overall capital value of £533 per sq ft / £5,747 including the terrace and £692 per sq ft / £7,463 per sq m excluding the terrace, assuming purchasers’ costs of 5.75%.
Opportunity to purchase a property in a regeneration location
New property built in 2018
Residential element and office element can be purchased individually
Spacious terrace on the second floor
Opportunity to repurpose the office element to residential use, subject to planning
Attractive lot size to an investor
Attention is drawn to the fact that access to all areas of the property may not be possible prior to completion
Replies to standard enquiries will not be provided as part of the conveyancing process
The property will be sold as seen. No express or implied warranties or representations are given.
Any prospective owner must be prepared to undertake asset management initiatives to regularise the basis upon which any commercial and residential occupants remain in situ.