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Lot 1

Vacant 51 Bedroom Hotel with Development Potential
3 month completion

Situation

Located on Eardley Crescent which links Old Brompton Road with Warwick Road within the Royal Borough of Kensington & Chelsea with nearby local shopping facilities in West Brompton. In addition, a variety of shops, boutiques and restaurants are available along Kensington High Street to the north-east.
The Olympia London Exhibition Centre is approx. 1 mile distant with Earl's Court Underground Station (District and Piccadilly Lines) and West Brompton Station (London Overground and Southern rail services) both within easy walking distance.
Recreational amenities in the area include Holland Park, Hyde Park and Battersea Park.
Furthermore, the property backs on to the former Earl's Court Exhibition Centre which is now the subject of a major regeneration scheme.
Earl's Court lies less than 3 miles south-west of Marble Arch.

Property

3 adjoining terraced buildings planned on lower ground, ground, first, second and third floors which interconnect at each level comprising a Hotel with 51 Bedrooms (each with ensuite and kitchenette) together with a Reception Area, Dining Room, Kitchen and ancillary office/storage areas.
In addition, there is a passenger lift to all floors, gas central heating and a rear garden.
The property will include fixtures and fittings - refer to Chattels List in the Legal Pack.

Accommodation

Lower Ground Floor
9 Bedrooms, Kitchen, Dining Room, Ancillary Rooms
GIA Approx. 2,809 sq ft¹
Ground Floor
9 Bedrooms (one used as an office & 6 with a mezzanine sleeping area),
Reception, Ancillary Rooms
GIA Approx. 2,508 sq ft¹
Rear Mezzanine
3 Bedrooms
GIA Approx. 452 sq ft¹
First Floor
12 Bedrooms (each with a mezzanine sleeping area)
GIA Approx. 2,551 sq ft¹
Second Floor
9 Bedrooms (one is a double room suite)
GIA Approx. 2,109 sq ft¹
Third Floor
9 Bedrooms (one is a double room suite)
GIA Approx. 1,926 sq ft¹

Total GIA Approx. 12,355 sq ft

¹Areas provided by Vendor.

VAT is NOT applicable to this Lot

FREEHOLD offered with VACANT POSSESSION

Note 1: Click here to view Floor Plans.

Note 2: Based on the hotel's current quoted room rates, we have calculated the hotel can potentially generate a gross income of £6,010 per night which equates to £2,193,650 per annum in a non-leap year.

Note 3: The property may also lend itself to conversion into a number of residential flats, subject to 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.

Boka Hotel, 33, 35 & 37 Eardley Crescent, Earl’s Court, London SW5 9JT