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Lot 9 Click here for addendum

Retail Investment plus Large Vacant 3 Bed Flat

6 Week Completion

Situation

Located close to the junction with Dalston Lane and Lower Clapton Road in this pedestrianised shopping street amongst such multiples as Halifax, Post Office, Santander, Boots, Vodafone and a host of independent traders.
Hackney is located approximately 4 miles north-east of Central London and is well served by Hackney Downs Station (Overground & National Rail) and Hackney Central Station (Overground) which are both within close walking distance.

Property

A mid-terrace Grade II Listed building comprising a Ground Floor Betting Shop, with separate rear access to a Self-Contained Basement and a large newly converted 3 Bed Self-Contained Flat planned on the first, second and third floors together with a small rear patio garden.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: There is a assignment being negotiated to an Adult Gaming Centre called Future Leisure Limited who have just applied for Planning Consent for change of use. As part of the deal, William Hill have offered a reverse premium of £18,500 stc.

Note 2: William Hill have also offered a surrender premium of £52,000 stc for an unconditional surrender of the lease by 1st August 2020, reducing pro-rata if it completes later.

Note 3: There may be potential to convert the rear section of the ground floor and basement into a Flat, subject to possession and Planning Consent. Click here to view the Ground and Basement Concept Plans.

Note 4: The flat conversion works are roughly 80% completed. Items outstanding include the final decoration, fitting of kitchen units, worktops, shower enclosure and staircase.

*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.

408 Mare Street, Hackney, London E8 1HP