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1-4, Pembroke Place & 32/34 Earls Court Road, LONDON, London, W8 6ET

17th September 2018
starts 10:30 AM at Grand Connaught Rooms
guide price *
£3,250,000

Tenure: Freehold

>premier located development opportunity (STPP)
>substantial corner building fronting Earls Court Road and Pembroke Place
>currently retail unit, offices and two flats
>reversionary investment

location:
This premier located corner building lies on the junction of Earls Court Road with Pembroke Place less than 100 metres to the south of Kensington High Street. This established and fashionable location benefits from superb transport links and being at the heart of Kensington High Street offering a range of fashionable shops, restaurants and recreational facilities. Lying to the north of the property and fronting Kensington High Street is the Odeon Cinema which is due for redevelopment and regeneration further enhancing this premier location. Transport links that serve the locality include a range of local bus routes whilst High Street Kensington underground (Circle and District Line) lies a short distance to the north east. The entrance to Holland Park lies opposite the junction of Earls Court Road and Kensington High Street with Holland Park offering superb range of recreational pursuits whilst Kensington Palace, Kensington Gardens and Hyde Park all lie to the north east a short distance from the property.

description:
This substantial corner building comprises a two storey building on the corner of Earls Court Road and Pembroke Place with the ground floor providing retail accommodation and the first floor forming part of one of the self contained flats within the building. The retail premises also benefit from a basement and has a separate access at Pembroke Place (known as 2 Pembroke Place). The remainder of the building fronting Pembroke Place is of brick construction and provides access to the two flats, one above part of the retail premises and the other a first floor one bedroom flat fronting Pembroke Place. In addition there is office accommodation (4 Pembroke Place) located at the ground floor element of the building fronting Pembroke Place.

development opportunity:
This is an established locality which is seeing significant development and these details provide some initial computer generated images to redevelop the site with additional floors similar to the adjoining building fronting Earls Court Road. Such development would retain the retail premises fronting Earls Court Road and through the creation of additional floors including a mansard, provide for a number of self contained flats with a communal entrance for the majority of the flats fronting Pembroke Place. The computer generated images shown within these particulars of sale are indicative only and purchasers may wish to utilise these to take forward initial pre-application discussions with the local authority planning department. Buyers are deemed to rely on their own enquiries with regard to development potential.

accommodation/tenancy:

32/34 Earls Court Road retail premises:
Ground floor retail Zone A 328sq.ft. (30.48sqm)
Retail Zone B 187sq.ft. (173sqm)
Store 97sq.ft. (9.05sqm)
Kitchen area 61sq.ft. (5.69sqm)
Ancillary areas 94sq.ft. (8.69sqm)
Basement area 516sq.ft. (47.93sqm)
Total internal area 1,283sq.ft. (119.1sqm)

tenancy:
Let to The Hat Gallery on a lease which expires 22/12/2018 at a current rent of £20,000 per annum.

1 Pembroke Place
One self contained flat of some 878sq.ft. (81.5sqm) comprising: One bedroom,
reception room, kitchen, bathroom/WC
Let on an AST expiring 11/12/2018 at a current rent of £25,000 per calendar annum.

4A Pembroke Place
One bedroom flat of approximately 475sq.ft. (44.15sqm) comprising: One
bedroom, reception room, kitchen, bathroom/WC
Let on an AST expiring 10/11/2018 at a current rent of £19,094 per calendar annum.

4 Pembroke Place
Ground floor office and stores totalling 311sq.ft. (28.8sqm) - Vacant possession.

total current rent reserved:
£64,094 per annum.

to view:
Strictly and only by prior arrangement with the auctioneers.




Important Notice:
For each Lot, a contract documentation fee of £1000 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.



1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Lot location is based upon nearest property postcode only. Actual location of property being sold may differ.

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lot infomation last updated: 8th January 2019 at 10:30 AM

what's next?

Before making an offer or attending the auction to bid, we recommend that you visit the property, check all of the contents of the legal pack and where appropriate ask your solicitor to check this too. You also need to ensure you have means to pay the deposit, our contract documentation charge and have the funds available to meet the full purchase cost on completion. For more information please read our buyers guide.
1
arrange a viewing
We arrange open house viewings on many lots or have arranged for local agents to hold keys. Some viewings may be external only and properties with tenants may not be available to view internally.
2
check or show your lawyer the legal pack/s
Click the "Legal Docs" button at the top of this page to download the legal pack for this lot. If the pack is not yet available just save the Lot to “my lots” and we will contact you as information becomes available or gets updated.  Please also review the general conditions of sale which are applicable to every lot.
3
arrange the needed funds
Ensure you have means to pay the deposit, our contract documentation charge and have the funds available to meet the full purchase cost on completion. Click here to visit service providers that may be able to help you.
4
schedule the auction in the diary
Add the auction to your online calendar or diary. When attending in person, be sure to arrive in good time in order to register. We suggest you arrive around one hour prior to the lot being offered.
5
register to bid / telephone bidding
You can bid by attending the auction in person or we can arrange for you to bid by telephone or you can instruct us to bid for you by proxy. Get started and register today.