Long Leasehold interest of 70 – 72 Westbourne Terrace, Paddington, London, W2 6QA

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Price
£500,000
Description

The subject property comprises the head lease of 70-72 Westbourne Terrace, Paddington subject to various underleases and freehold.

The subject property comprises the head lease of 70-72 Westbourne Terrace, Paddington subject to various underleases and freehold. The head lease runs until 2107 (85 years unexpired) and comprises the building and 7 vacant car parking spaces to the front of the property. The head lease also comprises loft space above a number of the flats.

The Interest
The lease is dated 31 December 1963 and is for a term of 150 years from 25 March 1957 less the last five days, so will expire 20 March 2107. The intermediate interest has to pay an annual ground rent to the freeholder of £250 per annum.

The Garage
The Garage is held on a term of 150 years less eight days from 25 March 2057 and will therefore expire 17 March 2107. The ground rent is set at £240 per annum to 2032 which then increases to £400 per annum for the remainder of the term.

Flat 11
This flat has a lease term of 99 years from 15 March 2008 and will therefore expire 15 March 2107. The ground rent is set at £125 per annum until 2041 when it increases to £250 per annum until 2074 when it doubles to £500 per annum for the remainder of the term.

Flat 12
This flat has a lease term of 99 years from 25 March 2003 and will therefore expire 25 March 2102. The ground rent is set at £300 per annum until 2028 and it then doubles to £600 per annum until 2053 and it doubles again to £1,200 per annum until 2078 and it doubles again to £2,400 per annum for the remainder of the term.

For more information, please contact the sole selling agents:
Pantera Property
James Ratcliffe MRICS
jamesr@panteraproperty.com
03301186610

More Information

For further details you can call us on 03301 186610 or drop an email to office@panteraproperty.com

We have not carried out a survey nor were we able to test service or fixtures and fittings and can therefore offer no warranty or guarantee. MISREPRESENTATION ACT NOTICE 1967: Pantera Property for themselves and for the vendors or Lessors of this property whose agents they are given notice that: 1) We have prepared these sales/lettings particulars as a general guide and they do not constitute any part of an offer or a Contract. 2) All description, dimensions, reference to condition, necessary permissions for use in occupation and other details are made without responsibility on the part of Pantera Property or the Vendors or Lessors. 3) None of the statements contained in these particulars are to be relied on as statements or representations of fact. 4) We have not carried out a survey or tested services, appliances and specific fittings. Room sizes should not be relied upon for carpets and furnishings and any intending Purchaser or Lessee must satisfy themselves by inspecting or otherwise as to the correctness of each of the statements contained in these particulars. 5) The Vendors or Lessors do not make or give and neither Pantera Property nor any person in their employment has any authority to make or to give any representation or warranty whatsoever in relation to this property. 6) If there are any important matters which are likely to affect your decision to buy or rent, please contact us before viewing of the property. 7) No liability is accepted for any travelling or other expenditure incurred including legal costs by prospective Purchasers or Lessees in viewing the property that may have been sold, let, withdrawn or subsequently let or sold to a third party.