Upper Belgrave Street, London, SW1X

Magnificent corner building situated between Eaton Square and Belgrave Square

Location

Upper Belgrave Street runs in a north-west to south-east direction, linking Belgrave Square to the north-west to the junction with Eaton Square and Hobart Place to the south-east.
The property is located on the eastern side of Upper Belgrave Street close to the junction of Wilton Street. It is conveniently located for the widest possible range of amenities and
recreational facilities in prime central London. The property is equidistant between Hyde Park Corner underground and Victoria Station.

Description

The property is a Grade II* listed Georgian corner building dating from C.1826. It was constructed using Portland stone and finely finished with a white stucco-rendered façade to designs by Thomas Cubitt and his architect, George Basevi Jnr. The building is approached by a number of steps leading to a portico styled entrance and arranged over 6 floors (served by a lift). The exceptional width of the building, approximately 37 ft, is felt throughout the property.

Planning
The property is located in the City of Westminster and is Grade II* Listed. It is also located within the Belgravia Conservation Area. The current planning use class is B1, although there is potential to convert to a single family dwelling, as this was the building's original use, subject to the receipt of all the necessary consents.

Terms
Tenure: A new FRI (Full Repairing & Insuring) lease for an effective term of 128 years for no rent, but excluding any rights under leasehold reform legislation.

In particular, the purchaser will not have a statutory right to claim the freehold under the Leasehold Reform Act 1967. The purchaser will have possession under a 20 year Initial Lease, and the benefit of an agreement for the 128 year lease to be transferred to it. The price will be payable in full on the grant of the 20 year lease. The term of the 128 year lease will start on the date of the Initial Lease. The 20 year lease will be subject to a supplemental deed under which the purchaser will agree to carry out works to sensitively convert the property to a single private dwelling within three years (subject to extension for fire or matters beyond its control), with a refundable development bond or other security. On satisfactory completion of the works (or if later two to three years after the building has become a house again) the 128 year lease will be transferred to the purchaser.

Save for a mortgagee enforcing its security, the purchaser will not be able to transfer or underlet the property until completion of the works. There will be a similar prohibition on a change of control of the purchaser through a sale of shares in the purchaser or another holding company.