Royal Hotel, Market Place, Kettering, North Northamptonshire, NN16 0AJ

  • Unconditional Online Auction Sale
  • Guide Price* : £1
  • Bedrooms: 43

THE ROYAL HOTEL - KETTERING - £1 GUIDE PRICE & NO RESERVE

Description

FOR SALE VIA AUCTION WITH HOWSOLD

£1 GBP GUIDE PRICE WITH NO RESERVE!!

PLANS, DRAWINGS, CGI’s & MORE INFORMATION AVAILABLE UPON REQUEST

THE PROPERTY IS IN ‘PRE-AUCTION MARKETING’ AND THE AUCTION DATE WILL BE CONFIRMED UPON COMPLETION OF THE LEGAL PACK - REGISTER NOW TO RECEIVE UPDATES

A Landmark Restoration Project – The Historic Royal Hotel, Kettering

Presenting a truly unique opportunity to acquire and re-imagine one of Kettering's most iconic buildings. The Royal Hotel, a Grade II listed, late-Victorian landmark, is now available for purchase, offering a substantial footprint in the town's primary commercial centre.

This expansive property is a multi-faceted investment, comprising:

A 43-room main hotel building, featuring a grand ballroom, a billiard room with an impressive glass dome, a former bar, and numerous function rooms.
A large nightclub located in the basement.
A set of commercial storefronts with prime frontage onto the main town square.
A café situated at the front of the property.
A separate, derelict stable block to the rear.
The main hotel has been taken back to a shell state, providing a blank canvas for a comprehensive redevelopment. While the core structure is in reasonable condition, the property is in need of a complete renovation to realise its full potential. The stable block requires significant structural intervention; it should be noted that planning permission had previously been granted for the demolition of these outbuildings, which has since lapsed.

This sale represents a significant project for an experienced developer. With proposed architectural plans available, the Royal Hotel offers the chance to create a modern hotel and premier events venue, restoring a treasured piece of local heritage to its former glory.

Furthermore, the property benefits from excellent transport links, with a direct train journey to London St Pancras International taking as little as 46 minutes.



Buyer's Administration Charge

Upon a successful bid, the purchaser is required to pay an Auction Fee to the auctioneers. This fee is calculated at 4.5% of the final purchase price inc VAT. A minimum charge of £6,600 inc VAT applies. A Buyer Information Pack is available and must be reviewed before bidding. The winning bidder will be charged £350 (plus VAT where applicable) for this pack.

Mortgage Buyers or Buyers With Finance: Those considering a mortgage/finance should thoroughly assess the property with their lender before placing a bid.

Guide Price - The guide price provides a general indication of the minimum value the seller is currently willing to accept for a property at auction. It is a tool to help potential buyers determine if a property is within their budget and worth pursuing.
At the beginning of the marketing campaign, a provisional reserve price is typically agreed upon between the seller and the auctioneer. The guide price is then set based on this initial understanding. It's important to note that the seller can alter the reserve price at any point leading up to and including the day of the auction, often in response to the level of interest generated.

The guide price may be presented as a price range, within which the eventual reserve price is expected to lie. Alternatively, it can be a single figure, in which case the reserve price will not be more than 10% above or below that amount. The guide price and reserve price are distinct concepts and both may be adjusted at any time before the auction concludes.

Reserve Price

This is minimum sale price that the seller will accept. The auctioneer is legally prohibited from selling the property for any amount below this figure. Both the guide price and the reserve price are subject to change at any time up to and including the auction day.

Legal Packs and Buyer Responsibilities
When you place a bid, you are doing so on the understanding that you have conducted all necessary due diligence. This is particularly critical for properties where the auctioneer has not conducted an inspection or reviewed tenancy agreements firsthand.

You confirm that you have thoroughly examined the General and Special Conditions of Sale and fully comprehend their contents. Be aware that legal packs may stipulate further costs payable by the purchaser, such as a contribution to the seller's legal expenses.

Disclaimer Regarding Legal Packs: Please be advised that the legal pack for each property is prepared exclusively by third-party solicitors instructed by the seller. We, as the auctioneers, do not draft these documents and hold no responsibility for their accuracy or completeness. It is the sole responsibility of any prospective purchaser to conduct their own thorough due diligence and seek independent legal advice on all documentation before placing a bid.

Information, surveys and reports are uploaded as a guide and should not be relied upon. You should do your own due-dilligence.

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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