Highly Desirable & Valuable Central London Freehold Residential Investment
Comprises 20 self-contained flats (including a porters flat) arranged over six floors
18 flats subject to long leases, including 6 flats with less than 90 years unexpired, with three of these having less than 50 years unexpired
One flat (3 bed, circa 900 sq ft) let on Regulated Tenancy at low rent, last registered in November 2016
Right to Manage Company that manages and insures the building
Highly prestigious Central London location, 0.5 miles from High Street Kensington Underground (District and Circle Lines)
Lot 11
Auction 21st September 2023
Rent £25,230 per Annum Exclusive
Status Sold Post
Price
Sector Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
0.2 miles from Kensington Gardens and Kensington Palace, 1.5 miles west of Hyde Park Corner
Roads
A4, A308, A315, A3220
Rail
High Street Kensington Underground (District and Circle Lines), Gloucester Road (Piccadilly and District Lines)
Air
London Heathrow
Situation
Kensington is a highly affluent and well-known district in the heart of The Royal Borough of Kensington and Chelsea. The property is situated on the east side of De Vere Gardens located off Kensington Road (A315) and is a short walk from Kensington Palace Gardens and Hyde Park. The property boasts excellent transport links within close proximity to High Street Kensington Station (District Line) and Gloucester Road (Piccadilly Line).
Tenure
Freehold.
Location
Miles
0.2 miles from Kensington Gardens and Kensington Palace, 1.5 miles west of Hyde Park Corner
Roads
A4, A308, A315, A3220
Rail
High Street Kensington Underground (District and Circle Lines), Gloucester Road (Piccadilly and District Lines)
Air
London Heathrow
Situation
Kensington is a highly affluent and well-known district in the heart of The Royal Borough of Kensington and Chelsea. The property is situated on the east side of De Vere Gardens located off Kensington Road (A315) and is a short walk from Kensington Palace Gardens and Hyde Park. The property boasts excellent transport links within close proximity to High Street Kensington Station (District Line) and Gloucester Road (Piccadilly Line).
Tenure
Freehold.
Description
The property comprises 20 self-contained residential flats including a porters flat arranged over six floors.
VAT
VAT is not applicable to this lot.
Note
NB: Notices pursuant to Section 5B of the Landlord & Tenant Act 1987 have been served on the residential tenants.
Completion Period
Six Week Completion
EPC
See Legal Pack
Description
The property comprises 20 self-contained residential flats including a porters flat arranged over six floors.
VAT
VAT is not applicable to this lot.
Note
NB: Notices pursuant to Section 5B of the Landlord & Tenant Act 1987 have been served on the residential tenants.
Completion Period
Six Week Completion
EPC
See Legal Pack
Tenancy & Accommodation
Address
Floor Areas Approx (GIA sq m) (1)
Floor Areas Approx (GIA sq ft) (1)
Term
Unexpired term (circa)
Rent p.a.x.
33 DE VERE GARDENS
Flat A
71.72 sq m
(772 sq ft)
211 years from 20/12/1977
165 years
Peppercorn
Flat 1
Duplex Flat arranged on lower ground and ground
(-)
65 years from 25/06/2006
48 years
£250
Flat 2
87.98 sq m
(947 sq ft)
90 years from 25/03/1990
57 years
£350
Flat 3
65.03 sq m
(700 sq ft)
189 years from 12/02/1999
164 years
Peppercorn
Flat 4
84.54 sq m
(910 sq ft)
Regulated Tenancy. Last Registered 15/11/2016 at £1,444 pcm
-
£17,328
Flat 5
72.46 sq m
(780 sq ft)
189 years from 25/12/1998
164 years
Peppercorn
-
37 DE VERE GARDENS
Flat A
89.74 sq m
(966 sq ft)
189 years from 20/12/1995
161 years
Peppercorn
Flat B
98.66 sq m
(1,062 sq ft)
75 years from 25/03/1984
36 years
£150
Porters Flat (Basement)
57.97 sq m
(624 sq ft)
Service Occupation (2)
(2)
£5,776
Basement Flat
-
(-)
189 years from 10/06/2010
176 years
Peppercorn
Flat 1
194.91 sq m
(2,098 sq ft)
125 years from 30/04/2018
120 years
£125
Flat 2
-
(-)
155 years from 29/09/1977
109 years
Peppercorn
Flat 3
188.87 sq m
(2,033 sq ft)
75 years from 24/12/1976
28 years
£300
Flat 4
212.56 sq m
(2,288 sq ft)
189 years from 23/12/2015
171 years
Peppercorn
Flat 5
193.42 sq m
(2,082 sq ft)
140 years from 20/05/1999
116 years
£150
Flat 6
207.36 sq m
(2,232 sq ft)
155 years from 24/06/1982
114 years
Peppercorn
Flat 7
-
(-)
79 years from 08/02/2013
68 years
£250
Flat 8
213.49 sq m
(2,298 sq ft)
101 years from 25/12/1998
76 years
£250
Flat 9
195.28 sq m
(2,102 sq ft)
164 years from 24/12/1976
117 years
£300
Flat 10
172.15 sq m
(1,853 sq ft)
189 years from 25/12/1998
164 years
Peppercorn
Electricity Sub Station
-
(-)
60 years from 24/06/1969
£1
Total Rent
£25,230
(1) Approximate Floor Areas where shown are demised from EPC's & sales particulars. (2) The Porter's flat is not subject to a lease, but the freeholder receives the rent detailed in the tenancy schedule above, which is paid for by the Management Company out of the service charge received by the lessees. The Porter occupies this flat as part of his employment at nil rent.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.