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Lot 41 Click here for addendum

completion 25th JUNE 2018

SITUATION

Located close to the junction with Devonshire Street in this prime London location being just a short walk of Regents Park (Bakerloo Line) and Great Portland Street Underground Stations (Circle, Hammersmith & City and Metropolitan Lines). A vast amount of shopping facilities can be found on Oxford Street and Regent Street approx. 1/2 mile south and the open spaces of Regent's Park are just to the north. Tesco Express, Sainsbury's Local, Pret, Pizza Express are just a sample of some nearby traders as well as a large variety of cafés and eateries on Great Portland Street which runs parallel.

PROPERTY

Comprising a Self-Contained Studio Flat on the fifth floor within this attractive purpose built period residential building which is served by a Porter and passenger lift. The flat includes:

• Intercom system
• Fully furnished
• Washer Dryer
• Hob/Oven
• Wooden flooring
• Built-in wardrobes

ACCOMMODATION

Studio Flat
1 Room, Kitchen, Bathroom/WC

VAT is NOT applicable to this Lot

TENURE

Leasehold for a term of 42 years from 24th June 1981 (having approx. 5 years unexpired) at a fixed ground rent of £75 p.a.

TENANCY

The property is let to an Individual on an AST for a term of 1 year from 10th March 2017 (holding over) at a current rent of £16,380 per annum exclusive.

Note: Upon the request of the Purchaser, the Vendor will, after exchange of contracts and prior to completion, serve a section 42 Notice drafted by the Purchaser's solicitor upon the Freeholder for a 90 year lease extension.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

Flat 70, 105 Hallam Street, Marylebone, London W1W 5HE