*VIDEO TOUR AVAILABLE ON REQUEST* The property comprises a two bedroom lower ground floor flat having two entrances, one from the common parts of the block, the other providing direct access onto Tufton Street. The property is in need of a scheme of refurbishment/modernisation. The freeholder last gave a valuation to the previous owner in June 2021 that a premium of £86,115 would be required to obtain a 999 lease at a peppercorn rent and a share of the freehold.
The property is situated within the City of Westminster, within a corner building that sits at the junction of Great Smith Street and Great Peter Street, with Tufton Street to the rear. Westminster Abbey and Westminster Palace is within a short walk and the immediate area is well served by retail and leisure facilities, with a large selection of shops, bars and restaurants situated along nearby Victoria Street. Both St James’ and Westminster Underground Stations are within walking distance.
The property is leasehold for a term of 99 years (less 5 days) from 24th June 1984, meaning there is less than 61 years until expiry. The ground rent is £75 per annum. A full copy of the lease is not available but a copy of a lease granted at the same time is included in the Legal Pack. Service charge for the period 1 Jan to 30 June 2022 is £1,311.71 plus a reserve fund contribution. Updated details awaited and please refer to the Legal Pack.
Extending to approximately 70 sq.m (753 sq. ft):
Hallway, Kitchen, Living Room, Bathroom and Two Bedrooms
Energy Asset Rating is C.
There will be a Buyer's Administration Fee of £2700 (inc VAT) payable upon exchange of contracts.
1. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.
2. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.
3. The property is being sold under Proceeds of Crime legislation. Please see Legal Pack for further details.
* 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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