Home > Auctions > 20 September 2023 20 September 2023 - 9:00am > Lot 97

20 September 2023: Wednesday 20 September 2023 - 9:00am
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    Key features

    • Substantial basement opportunity in Central London
    • Comprises approximately 242 sq m (2,604 sq ft) NIA
    • Asset management opportunities including re-letting or change of use (subject to necessary consents)
    • Accessed from both Richbell Place and Emerald Street
    • Nearby occupiers include Caffe Nero, Papa Johns and Ted's Grooming Room

    Description

    The property comprises the basement of a mixed use commercial and residential building. The property is currently used for storage by the tenant. The permitted use under the lease is for a car park and/or for storage. Further specification includes vehicle access ramp, electric roller shutter, open plan, circa 2.83 floor to ceiling height. The property benefits from two secure entrances for both vehicle and pedestrian access. Industrial fridges remain in the property from the previous tenant. The property benefits from 3 phase power supply and consent for a WC has been obtained.

    Additional information

    Tenure

    999 year lease from 11/12/2003 until 10/12/3002 at a peppercorn rent.

    Accommodation

    Please note that the approximate areas have been provided by a third party and the property has not been inspected by Savills.


    The property comprises approximately 242 sq m (2,604 sq ft) NIA arranged on the basement floor.

    Tenancy

    Vacant.

    Planning

    Planning permission was granted by the London Borough of Camden on 25 January 2017 for change of use of existing basement car park to a flexible B1/B8/D1/Gym (D2)/veterinary clinic (sui generis) use. Based upon the recent changes to the Use Classes Order effective from 1 September 2020 there is permission for the following, subject to Freeholders consent (where required);

    • B8 Storage;
    • D1;
    • E (now incorporating the old A1, A2, A3, gym, health, crèche, B1)


    The property benefits from future development/change of use potential, subject to all necessary consents. For further enquires please contact Camden Council (www.camden.gov.uk/planning-building-development).

    Notes

    VAT is applicable to this lot.

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        Local information

        The property is situated in Holborn, a few minutes walk from Great Ormond Street on Lamb's Conduit Street. In the heart of London's museum district, the property is a stones throw from the British Museum, Charles Dickens Museum and The Postal Museum. Hatton Garden famed for its jewellery stores is a short walk away and other nearby occupiers include Caffe Nero, Papa Johns and Ted's Grooming Room. The property is next to Holborn Police Station.

        Transport

        Four tube stations lie within a 15 minute walk, Russell Square, Chancery Lane, Tottenham Court Road and Farringdon providing superb transportation links across London, including National Rail links out of London from Farringdon.

        Legal documents

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        EPC rating

        If no EPC rating appears please refer to the legal pack.

        Guide prices and common auction conditions

        •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

        •The reserve price is the minimum price at which the property can be sold.

        •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

        •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

        Please note that all prices listed, whether prior to or post auction, are subject to contract.

        The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

        The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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