February 2023: Tuesday 07 February 2023 - 9:00am
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    Key features

    • Comprises the leasehold interest of entire building on Harley Street
    • Includes very desirable 5 secure car parking spaces in Marylebone location which can be let or used
    • Total current ground rent received £3,606.25 pa gross
    • Highly affluent and desirable central London location
    • Prestigious asset in private healthcare location

    Description

    The property comprises a seven storey building in central London arranged as 15 flats and 14 car parking spaces. All of the flats have been sold on long leases. 9 car parking spaces have been sold on long leases, leaving 5 car parking spaces (spaces 1, 2, 7, 8 and 9) that are available to use, let or sell.

    Additional information

    Tenure

    Leasehold. Held on a 99 year lease from 16th October 1956 (expiring October 2055) at a current ground rent of £3,500 pa.

    Accommodation

    The property comprises 15 flats and 14 car parking spaces.


    All of the flats and 9 of the car parking spaces have been sold off on long leases, leaving 5 car parking spaces which are vacant (spaces 1, 2, 7, 8 and 9).

    Tenancy

    Please see legal pack for the detailed tenancy details.


    Please note there are no longer any administration charges being paid by the underlessees.


    The total income is £3,606.25 pa before deduction of the ground rent to the freeholder.



    Rent

    £3,606.25 pa

    Notes

    The seller has served notice pursuant to section 5B of the Landlord & Tenant Act 1987 on the residential tenants to which no responses have been received.


    Please note that any yellow line drawings are indicative only and should not be relied on. Please refer to the title documents in the legal pack.


    Addenda to read out on rostrum: Please note there are no longer any administration charges being paid by the underlessees. Please also note the ground rent payable to the freeholder is £3,500 and not as previously stated.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Harley Street is located in Marylebone, Central London, which has since the 19th century housed a large number of private specialists in medicine and surgery. The property is located in a prominent location on the west side of Harley Street, between Weymouth Street and Devonshire Street.

      Transport

      Rail: Oxford Circus (Victoria, Bakerloo, Central)


      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums