7 bed terraced house for sale

Royal College Street, London NW1

Fully let freehold investment comprising 3 flats, currently producing £90,732 Per Annum.

The property comprises a mid-terrace building arranged over lower ground, ground and two upper floors, providing three self-contained flats comprising one three-bedroom flat and two two-bedroom flats.

The property is situated on a predominantly residential road within easy reach of a range of local shops, amenities and transport links. The open spaces of The Regent’s Park are also within convenient reach.

Transport links are well provided for, with Camden Town Underground Station (Northern line) and Kentish Town Rail Station both accessible from the property.

The property is currently fully let, producing a combined annual rental income of £90,732.

Accommodation & Tenancy Schedule:

Flat A - Lower ground & ground floor three bedroom flat (not inspected)
Approx 77 sqm - Private individual, tenanted for £3250pcm

Flat B - First floor two bedroom flat (not inspected)
Approx 43 sqm - Private individual, tenanted for £2145pcm

Flat C - Second floor two bedroom flat (not inspected)
Approx 36 sqm - Private individual, tenanted for £2166pcm

Total Current Rent: £7561pcm/£90,732 per annum

The ground-floor flat benefits from a private rear garden.

Planning Note:

Camden Borough Council previously granted planning permission under reference 2010/6105/P, dated 18 January 2012, for:

“Conversion from single family dwelling house to 3 x self-contained flats (Class C3), erection of a two storey rear extension at first and second floors, and alterations to front elevation including new window at ground floor level and covering of lightwell.”

The planning permission has now lapsed.

This property is for sale via Online Auction. This is a modern twist on the traditional auction room sale where buyers can bid for the property via an online platform. The auction will run for 3 hours on a set date and time chosen by the vendor of the property. The winning bidder, assuming the reserve is met, is legally bound to exchange on the property and pay a 10% deposit similar to a traditional auction house sale and they will have 28 days to complete, please check the legal paperwork to confirm deposit amount. Upon completion of a successful auction the winning bidder will be required to pay a non-refundable reservation fee of 3.6% inclusive of VAT of the winning bid in addition to the purchase price subject to a minimum fee of £5940 inclusive of VAT. The auction is powered and carried out by Whoobid and is subject to terms & conditions which will form part of the auction pack which will be available to download for free once produced by the vendors legal representatives. We strongly recommend that you review the legal documents prior to bidding and seek legal advice. Please remember that the reservation fees are payable in addition to the sale price. Fees paid to the auctioneer may be considered as part of the chargeable consideration and may attract stamp duty liability. Bidders will be required to register in order to download the 'legal pack', if you choose to bid on the property, you will be required to complete further identity checks for anti-money laundering purposes and provide card details before you are able to place a bid. Properties may be sold prior to public auction if an offer is accepted by the vendors.

**Guide price - This is an indication of the seller's minimum expectations at auction and is not necessarily the figure the property will achieve but acts as a guide, prices are subject to change prior to the auction.

**Reserve price - Most auctions will be subject to a reserve price, if this figure is not achieved during the auction, then the property will not be sold. In normal circumstances the reserve price should be no more than 10% above the guide price.