Mixed use

Interested parties should contact Knight Frank Auctions for further information.

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.
Note The buyers fee in this lot is £2,400 including VAT.
Virtual Tour: _https_my.matterport.com/show/?m=hhqrQPTEpuC

Tenure: Freehold

EPC Rating: E

Terms:
Auction Method
The auction for this property will take place as an "Auction Event" behind closed doors with a live auctioneer and will be streamed online in real-time. The property will be sold alongside several other lots. Bids must be placed remotely - please see the below section on "Registration Process". The auction can be watched in real-time on the auction date through SDL Property Auctions' website on their home page.
The auction date applicable for the property is displayed underneath the property description. It is not possible to provide a precise timeslot when this property will be auctioned on the day, because there are other lots being sold.
You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed.
When you place your bid, you are deemed to have agreed to SDL Property Auctions' Buyers Terms (Knight Frank) which are available on SDL Property Auctions' website.

Auction type - Unconditional
If you are the highest bidder, you must exchange legally binding contracts for the sale when the auction for the property comes to an end. You must then pay the applicable fees and deposit. You must complete the sale within 15 business days unless the Special Conditions of Sale contained within the legal pack state otherwise.

Auction Fees
The following standard non-refundable fees apply:
Buyer's Fee - payable on exchange of contracts. The value of this fee will be listed against the lot details, inclusive of VAT. This fee does not contribute towards the purchase price of the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the legal pack. You must read the Special Conditions carefully before bidding. Any additional fees are included at the seller's discretion, not on the instruction of SDL Property Auctions, and will be in addition to any fees payable.  SDL Property Auctions has limited control over the content of the Special Conditions of Sale.

Deposit
On exchange of contracts, you must pay a non-refundable deposit equal to 10% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.

Payment Method
Applicable fees must be paid immediately after a winning bid has been placed. Payment by cash or cheque will not be accepted. Prior to the auction, you will receive an email from the auctioneer to register your card details with third-party provider, Stripe. Your card details will be stored on their secure online payment platform. Payment will only be taken from you in the event of a winning bid. In this case, you will be contacted by a representative of the auctioneer to make payment. If you cannot be contacted within 24 hours after the auction ends, the auctioneer reserves the right to charge your card.

Legal Pack
Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate.
The legal pack can be viewed on SDL Property Auctions' website by searching for the property. On the property details page there is a sub-heading "Legal Packs". Follow this link, and you will then be directed to create an account with Auction Passport to view the documents.
The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. An addendum may be issued outlining any late changes. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.
It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding.

Special Conditions of Sale
The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of SDL Property Auctions' terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack.

Registration Process
To register to bid on the property, visit the SDL Property Auctions' website and submit your remote bid. The lot number can be found against the Lot Details of the property. Prospective buyers must register no later than 12pm the day before the auction date. If you register after the cut off, it cannot be guaranteed that your registration will be processed.