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Lot 16 Click here for addendum

RESIDENTIAL / COMMERCIAL DEVELOPMENT OPPORTUNITY
in same ownership since 1954
ON BEHALF OF TRUSTEES

SITUATION

Located on this busy main thoroughfare, close to the junction with Fitzroy Street and opposite the recently developed mixed use campus of Regents Place and nearby such multiples as Sainsburys, NatWest, Eat, Wasabi, Starbucks, Pret A Manger and Coral.
Regent's Park, Tottenham Court Road and UCL Hospital are all within close proximity.

The Euston Road forms part of London's Inner Ring Road (A501) providing excellent road links via A40/M40 to the west and City Road to the east. The area is also well served by public transport being very close to Warren Street Station (Northern and Victoria Lines) and Great Portland Street Station (Circle, Hammersmith & City and Metropolitan Lines), whilst Euston and King's Cross / St. Pancras Mainline Stations are less than 2 miles away.

PROPERTY

A mid terrace building comprising a Ground Floor Restaurant with a Basement together with internal access to a 4 Room Flat on the first and second floors.

ACCOMMODATION

Ground Floor Restaurant
Gross Frontage 18'0”
Internal Width 12'10”
widening at rear to 16'4”
Resturant & Built Depth 41'3”
Area Approx. 536 sq ft
Basement
Area Approx. 626 sq ft
3 WCs
First & Second Floor Flat
4 Rooms, Kitchen, Shower/WC
Area Approx. 1,095 sq ft

Total Area Approx. 2,257 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Rasa Limited (having 5 London branches) for a term of 1 year from 2nd June 2016 (see Note 1) at a current rent of £50,200 per annum exclusive.

Note 1: The tenant has operated their break clause to terminate the lease on 1st December 2016.

Note 2: The lease is excluded from the security of tenure and renewal provisions s. 24 to 28 of the L & T Act 1954.

Note 3: There may be potential to redevelop the property to include the creation of additional floors, subject of obtaining the necessary consents.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

327 Euston Road, London NW1 3AD