• Redevelopment/ Alternative Use Opportunity in NW1 (1)

• Popular location close to Camden Town & Mornington Crescent Tube Stations (Northern Line)

• 500 metres to Regents Park, 0.5 miles to London Zoo, 0.6 miles to Euston Station & 1.3 miles to Oxford Circus

• Includes a Garage

• To be offered for sale via Knight Frank Auctions on Thursday 23rd July (unless sold or withdrawn prior)

Property Description

The property comprises an office building arranged over basement, ground and first floors together with a garage.

FLOOR AREAS
Basement Floor - 36.20 sq m (390 sq ft)
Ground Floor - 78.90 sq m (849 sq ft)
First Floor - 84.20 sq m (906 sq ft)
Total - 199.30 sq m (2,145 sq ft)
(Approx. Gross Internal Areas)

Ground Floor - Garage

TENURE
Freehold

TENANCY
Vacant possession upon completion of the sale

VAT
VAT is not applicable

EPC
See legal pack

OPTION
The property is held in an SPV, Cyprus based company and the option of a share sale is available to the purchaser. Please see the legal pack for further details.

PLANNING (1)
The property may benefit from redevelopment subject to all necessary consents & permissions. The Vendors proposed the following development of a roof extension at second floor level to provide a 2-bedroom self-contained flat (Class C3); extension to existing basement to provide additional office space (Class B1a) and conversion of existing ground floor and first floor level from office to residential (Class C3) to provide 4 self-contained studio flats. Please see legal pack for further details.
Interested parties are referred to the London Borough of Camden (www.camden.gov.uk/planning).
The property is not listed

VIEWINGS
Strictly by appointment only - please contact [email protected]

Location

The property is in a predominately residential suburb on Mornington Street close to its junction with Arlington Road. The bohemian atmosphere of Camden Town and Camden Market are close. Primrose Hill Park and Regents Park are within 0.5 miles to the west, along with its numerous cafes and restaurants and boutique shops. The canal towpath provides a beautiful walking or cycling route west to Little Venice and beyond. Public transport connections are extensive, with Mornington Crescent (250 metres to the east) & Camden underground stations (600 metres to the north) nearby as well as multiple bus routes into and out of London. Furthermore, Euston Station is 0.6 miles to the south & Oxford Circus 1.3 miles to the south.

Auction Details: The sale of this property will take place on the stated date by way of Auction and is being sold as on an Unconditional basis. 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 of the purchase price, subject to a minimum of £5,000. The deposit contributes to the purchase price. • Buyer’s Fee- is £1950 including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property. 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 and take professional advice 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 Knight Frank Auctions’ website. 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 Auction Conduct Guide.