Former 'House of Reeves' site, Reeves Corner, CROYDON, Surrey, CR9 1QS
13th March 2023
starts 10:00 AM at Grand Connaught Rooms
starts 10:00 AM at Grand Connaught Rooms
last bid was £1,470,000,
available for *
refer
Tenure: Freehold
!
The negotiator dealing with this Lot is Chris Glenn and he can be contacted by email: chris.glenn@sequencehome.co.uk
Historic Landmark Development Opportunity (stpp)
Prominent Corner Site 1/3 Acre
First Time on Open Market for Many Years
Full Vacant possession (see note)
Unconditional Sale with no Planning overage/ Uplift
Location:
This unique opportunity is located in the Old Town area of Croydon specifically at the junction of Church Road and Reeves corner. Croydon has become renowned in recent years for new development and growth with this lot arguably offering an opportunity to acquire one of the few landmark sites yet to be developed. The area has superb transport connections with West Croydon Station being within less than a half mile walk with other links including the tram network and local bus routes. The town centre offers a thriving range of shopping facilities and recreational pursuits whilst the open space of Wandle Park offers some 4 hectares of open space and lies within a o.2 mile walk.
Description:
The property sits within a site of some 1/3 acre and currently presents some 14,000sq ft of built space comprising a range of retail, ancillary, office and storage space and is possibly one of the oldest and most established retail location/ outlets in the area. Whilst evident continued retail use is an option, a more modern and efficient use of the land and existing built space could offer a range of development options.
Planning:
This site is to be sold on an unconditional basis only and the seller has decided to offer the opportunity as it is with no requirement for planning uplift or overage payments leaving the buyer free to gain planning and enjoy 100% of the uplift in value that a planning permission would evidently deliver. Prospective buyers should note that until recently a development company held an option to purchase the site subject to planning. This planning was refused on appeal but, the proposed development would have been domineering especially to the nearby church. These details show some initial computer generated architect lead images of a scaled down development to that previously proposed. The images are not a revised proposed scheme but potential buyers are welcome to utilise these images showing a mixed commercial/residential scheme to take forward pre-application discussions with the relevant authorities.
Possession:
The sale contract provides that vacant possession will be provided by the occupiers within 6 months following completion and in that interim period will occupy the premises on license at nil rent but be fully responsible for business rates and all other outgoings.
To View:
Barneys Estate Agents and Auctioneers, Tel 020 8432 7330
Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.
1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.
Prominent Corner Site 1/3 Acre
First Time on Open Market for Many Years
Full Vacant possession (see note)
Unconditional Sale with no Planning overage/ Uplift
Location:
This unique opportunity is located in the Old Town area of Croydon specifically at the junction of Church Road and Reeves corner. Croydon has become renowned in recent years for new development and growth with this lot arguably offering an opportunity to acquire one of the few landmark sites yet to be developed. The area has superb transport connections with West Croydon Station being within less than a half mile walk with other links including the tram network and local bus routes. The town centre offers a thriving range of shopping facilities and recreational pursuits whilst the open space of Wandle Park offers some 4 hectares of open space and lies within a o.2 mile walk.
Description:
The property sits within a site of some 1/3 acre and currently presents some 14,000sq ft of built space comprising a range of retail, ancillary, office and storage space and is possibly one of the oldest and most established retail location/ outlets in the area. Whilst evident continued retail use is an option, a more modern and efficient use of the land and existing built space could offer a range of development options.
Planning:
This site is to be sold on an unconditional basis only and the seller has decided to offer the opportunity as it is with no requirement for planning uplift or overage payments leaving the buyer free to gain planning and enjoy 100% of the uplift in value that a planning permission would evidently deliver. Prospective buyers should note that until recently a development company held an option to purchase the site subject to planning. This planning was refused on appeal but, the proposed development would have been domineering especially to the nearby church. These details show some initial computer generated architect lead images of a scaled down development to that previously proposed. The images are not a revised proposed scheme but potential buyers are welcome to utilise these images showing a mixed commercial/residential scheme to take forward pre-application discussions with the relevant authorities.
Possession:
The sale contract provides that vacant possession will be provided by the occupiers within 6 months following completion and in that interim period will occupy the premises on license at nil rent but be fully responsible for business rates and all other outgoings.
To View:
Barneys Estate Agents and Auctioneers, Tel 020 8432 7330
Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.
1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.
Lot location is based upon nearest property postcode only. Actual location of property being sold may differ.
lot infomation last updated: 31st March 2023 at 10:24 AM
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