House For Sale £2,750,000
Interested parties should contact Knight Frank Auctions for further information.
Description
The property comprises a large terraced building, extending to approximately 3,195 sq. ft., that has been extended and refurbished to an excellent standard to comprise a 14 bed HMO. Eleven units are self-contained studios, with the remaining three units benefitting from en-suite facilities and a shared kitchen. The property benefits from an additional communal bathroom, a communal rear garden and bike store.
The property is fully let on ASTs, producing £223,500 per annum and boasts an occupancy rate of 97.3% over the past 24 months. The operational budget may provide various asset management opportunities. Refer to the legal pack for a full suite of accounts.
The property itself a rarely available, luxurious, prime West Hampstead residential investment that may offer additional development potential and asset management opportunities, subject to obtaining the necessary consents. Interested parties are advised to rely on their own enquiries.
The existing HMO licence expired in May 2023. Camden Council have not yet issued a new certificate, following the vendor's renewal submission on 3rd May 2023. Refer to the legal pack for further details.
The London Borough of Camden (/[use Contact Agent Button]).
Please contact Mike Tracy for viewings ([use Contact Agent Button]).
Location
Situated in the heart of West Hampstead, this well-appointed and luxurious property is perfectly located with ample transport links, amenities and recreational facilities near by.
Dennington Park Road is located close to the cafes and shops of West End Lane in West Hampstead and West Hampstead Underground (Jubilee Line) and the Thames Link are a short walk.
Occupancy
Tenanted
Tenure
Freehold
Leasehold Information
Freehold
Buyers Fee
The buyers fee is £1500 including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property.
Auction Details
The sale of this property will take place on the stated date by way of Timed Auction 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.
Description
The property comprises a large terraced building, extending to approximately 3,195 sq. ft., that has been extended and refurbished to an excellent standard to comprise a 14 bed HMO. Eleven units are self-contained studios, with the remaining three units benefitting from en-suite facilities and a shared kitchen. The property benefits from an additional communal bathroom, a communal rear garden and bike store.
The property is fully let on ASTs, producing £223,500 per annum and boasts an occupancy rate of 97.3% over the past 24 months. The operational budget may provide various asset management opportunities. Refer to the legal pack for a full suite of accounts.
The property itself a rarely available, luxurious, prime West Hampstead residential investment that may offer additional development potential and asset management opportunities, subject to obtaining the necessary consents. Interested parties are advised to rely on their own enquiries.
The existing HMO licence expired in May 2023. Camden Council have not yet issued a new certificate, following the vendor's renewal submission on 3rd May 2023. Refer to the legal pack for further details.
The London Borough of Camden (/[use Contact Agent Button]).
Please contact Mike Tracy for viewings ([use Contact Agent Button]).
Location
Situated in the heart of West Hampstead, this well-appointed and luxurious property is perfectly located with ample transport links, amenities and recreational facilities near by.
Dennington Park Road is located close to the cafes and shops of West End Lane in West Hampstead and West Hampstead Underground (Jubilee Line) and the Thames Link are a short walk.
Occupancy
Tenanted
Tenure
Freehold
Leasehold Information
Freehold
Buyers Fee
The buyers fee is £1500 including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property.
Auction Details
The sale of this property will take place on the stated date by way of Timed Auction 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.
