Interested parties should contact Knight Frank Auctions for further information.

Description
This freehold mid terrace building is situated within an established parade a short distance from West Hampstead Tube (jubilee Line, Thameslink and Overground services).

Arranged to provide restaurant over ground and basement, three self contained flats over 1st to 3rd floors and a rear development opportunity accessed via Exeter Mews. Residential conversion subject to obtaining all necessary consents.
Ground Floor and Basement
Let to an individual trading as Korean BBQ for a term of years expiring 11 May 2025 at £35,300 p.a. The current restaurateur has been the lessee since 2014 and has no rent arrears.
- Should vacant possession wish to be obtained the lease is contracted outside the security of tenure provisions of the Landlord and Tenant Act 1954.
- Should a longer term certain wish to be obtained then the tenant wishes to enter into a new lease extending the existing term. The draft lease can be found within the legal pack and the option for the buyer to execute the draft lease is set out within the sales contract.

First Floor Front
Flat 1: Comprising 2 bedrooms, 1 family bathroom and and a living room. Let for a term 145 years from 2017 (thus having approximately 140 years unexpired) at a peppercorn ground rent. We are informed that a premium of £50,000 was paid for an additional 90 years.

First Floor Rear
Flat 2: Studio Apartment*. Let for a term of 99 years from 29/9/1978 (thus having approximately 55 years unexpired). Current ground rent £60pa.

Second and Third Floor
Flat 3: 3 bedroom apartment, 2 bathrooms, 1 reception room. Let for a term of 99 years from 29/9/1978 (thus having approximately 55 years unexpired).
Current ground rent £60pa

Ground Floor Rear
(Accessed via Exeter Mews) Storage unit with 2 car park spaces. Vacant - suitable for residential conversion, subject to obtaining all necessary consents.

Location
The property is conveniently located within easy access of West Hampstead stations (with Thameslink, Jubilee line and Overground services), as well as numerous regular bus routes providing excellent cross-London links. The area surrounding the property also benefits from an array of fashionable shops, bars, cafes and restaurants in West End Lane. The open spaces Hampstead Heath and Golders Hill Park also close by for wonderful recreational space. West Hampstead is also well served by a choice of excellent local schools.

Occupancy
Tenanted

Tenure
Freehold

Buyers Fee
The buyers fee in this lot is £2,400 including VAT.

Auction Details
The sale of this property will take place on the stated date by way of and is being sold as Unconditional.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to the Common Auction Conditions and Extra General Conditions.

Auctioneer Fees and Deposit
The following deposits and non-refundable auctioneer fees apply:

• 10% deposit, subject to a minimum of £5,000. The deposit contributes to the purchase price.
• Buyer’s Fee- the value of this fee will be listed against the property details, inclusive of VAT.

The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees contained within the Special Conditions of Sale, which can be viewed within the Legal Pack. You are strongly advised to read the Legal Pack carefully before bidding.

Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.