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Property for sale

65 New Cavendish Street & 47 Weymouth Mews, Marylebone, London W1G

Removed £15,000

Property Description

Key features

  • For sale by auction
  • Ground Rent

Full description

Tenure: Freehold

Lot 23 - This lot is for sale by auction as lot 23 on 15th December 2016.

A Virtual Freehold/Head Leasehold Ground Rent Investment secured upon a Six Storey Building arranged as a Commercial Unit and Three Flats together with a Three Storey Mews House


Tenure
Virtual Freehold/Head Leasehold. The property is held on a lease for a term of 999 years from October 1938 (thus having approximately 921 years unexpired) at a peppercorn ground rent.

Location
The property is situated on the north side of New Cavendish Street, on the corner of Weymouth Mews, immediately to the west of Portland Place and within Marylebone Village. Regent's Park (Bakerloo Line) and Great Portland Street (Circle, Hammersmith & City, Metropolitan Lines) Underground Stations are both within walking distance to the north. The nearby Marylebone Road (A501) provides direct and easy access to the A40 westbound. The open spaces of Regent's Park are also within walking distance to the north.

Description
The property comprises the virtual freehold/head leasehold interest in a six storey corner building internally arranged as a lower ground and ground floor commercial unit and three self-contained flats arranged over floors 1-4. There is a three storey mews house immediately next door.

Tenancies
A schedule of tenancies is set out opposite. NB. The lessees have NOT elected to take up their rights of pre-emption under the Landlord & Tenant Act 1987.

Seller's Solicitor
Olswang LLP (Ref C. Vernon). Tel 0207 067 3357.Email caroline.vernon@olswang.com

Total Current Rent Reserved


£900 per annum (equivalent)


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 www.auction.co.uk. Please check regularly for updates. Lots may be sold or withdrawn prior to auction.

Listing History

Added on Rightmove:
26 November 2016

Map & Street View

Disclaimer - Property reference 970000072. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Allsop , Auction. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Allsop , Auction on 0207 494 3686.


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