A Vacant Well Located Fourth Floor Four Bedroom Flat

The property comprises a fourth floor four bedroom flat situated within a prestigious purpose built block arranged over ground and eight upper floors.

Tenure

Leasehold. The property is held on a 99 year lease from 24th June 1977 (thus approximately 50 years unexpired).

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Regent's Park are within easy reach. Transport links are provided by Maida Vale underground station (Bakerloo line), St John’s Wood underground station (Jubilee line) and Marylebone rail station.

Accommodation

Fourth Floor Reception Room Kitchen Four Bedrooms (One with En-Suite) Bathroom GIA Approximately 94 sqm / 1,016 sq ft

Exterior

The property benefits from a private gated entrance and a 24/7 porter

Tenancy

We understand from the vendor that the property would rent in the region of £5,000 pcm (£60,000 per annum)

Further Information

When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. If you do not fully understand this process, please ask the auctioneers or a solicitor.

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,800 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.