Barnard Marcus, the estate agent marketing the property, has described it as an “excellent investment opportunity” due to its estimated rental yield of around eight per cent.
The listing states that the entire site is available for £1,600,000 and is being sold through a modern method of auction.
The agent highlights that the development is being sold as a single, unbroken freehold, meaning the buyer would own the entire site rather than individual units.
The estate agent notes that the property has “excellent connection to local transport and amenities.”
West Sutton station is 1.1 miles away and Morden South is 1.3 miles away, according to the listing.
Barnard Marcus also points out that the location is close to several schools.
Brookfield Primary Academy, rated “Good” by Ofsted, is approximately 0.07 miles from the property.
St Cecilia’s Catholic Primary School and Cheam Park Farm Primary Academy, both rated “Outstanding,” are 0.4 miles away.
Brookways School, which has an Ofsted rating of “Requires improvement,” is located 0.5 miles from the development.
The agent describes the development as “turnkey,” suggesting that the houses and apartments are ready for tenants to move in without the need for further work.
Barnard Marcus states that viewings are “highly advised” for interested buyers.
The sale is subject to an undisclosed reserve price and buyers’ fees apply.
The property is being sold by auction, and the agent explains that the modern method of auction allows both parties 56 days to complete the transaction.
This period is intended to give buyers time to arrange mortgage finance, subject to lending criteria, affordability, and survey.
According to the listing, buyers are required to sign a reservation agreement and pay a non-refundable reservation fee of 4.5% of the purchase price, including VAT, with a minimum fee of £6,600 including VAT.
This fee is in addition to the purchase price and will be considered as part of the chargeable consideration for stamp duty calculations.
Buyers will also need to pay up to £349 including VAT towards the preparation cost of the buyer information pack.
Barnard Marcus advises that all prospective buyers must complete an identification process and provide proof of funding for the purchase.
The agent also notes that a buyer information pack is available, which contains documents about the property, but says that buyers should carry out their own due diligence before bidding.
The estate agent and auctioneer may recommend the services of other providers, for which they may receive referral fees.
These services are optional and buyers will be informed of any payments in writing before accepting any services.
Barnard Marcus states that all sales particulars are intended as a general guide and should be independently verified by interested parties.
The agent also confirms that measurements are for guidance only and that services or equipment have not been tested.
The property is available for viewing by appointment with the agent.
