Property for sale in London W2, 1 Bedroom

Lot 44 - This lot is for sale by auction as lot 44 on Thursday 28th March 2019.

‘Option to Purchase’ a Long Leasehold Reversionary Ground Rent Investment secured upon a Self-Contained First Floor Flat

Tenure
‘Option to Purchase’ a Long Leasehold. The property is held on a lease for a term of 999 years from 24th June 1971 (thus having approximately 951 years unexpired) at a ground rent of a peppercorn.

Location
The property is situated on the south side of Gloucester Terrace, to the south-east of its junction with Craven Road (B410). The local amenities of Bayswater are readily available, with the further extensive shopping facilities of Oxford Street being accessible to the south. Lancaster Gate Underground Station (CentralLine) is within close proximity to the south. The A40 Westway is within reach to the north. The open spaces of Kensington Gardens are to the south.

Description
The property comprises an ‘option to purchase’ a reversionary ground rent investment secured upon a self-contained first floor flat situated within a white stucco front building arranged over lower ground, ground and five upper floors.

Accommodation
Reception Room, Bedroom, Kitchen, Bathroom

Tenancy
The property is subject to an underlease expiring 23rd June 2070 (thus having approximately 51 years unexpired) at a current rent of a peppercorn.

Seller’s Solicitor

Messrs Wiliams Heath & Co (Ref: Df). Tel: Email: David.Fleming@williamheath.Co.Uk

Guide Prices. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller might be prepared to sell on the date on which the guide price, or range of prices, is published. The reserve price is the minimum price at which the property can be sold. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. All guide prices are quoted 'subject to contract'. The latest published guide price, or range of prices, are displayed on our website. The latest published guide, or range of prices, will normally be at or above any reserve price. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any lot may exceed the previously quoted guide price - as the seller may fix the final reserve price just before bidding commences. If a guide price is listed as 'tba', it means that there is no guide price at present - please do not call our office. The guide price, or range of prices, will be published online immediately it becomes available at: Please check regularly for updates. Lots may be sold or withdrawn prior to auction.