3 Bedroom 1^st Floor Flat – 133 Clarence Gate Gardens, Glentworth Street, London, NW1 6AN

Overview

Hammer Price Homes are delighted to present for sale by online auction this vacant & chain free, 3 bedroom 1^st floor flat located in the charming Clarence Gate Gardens. This auction is open to mortgage buyers, with 90 days to complete.

This large period property, which features impressive high ceilings and many original features, is located on the first floor and can be accessed either via stairs or lift. The property briefly comprises: To the first floor there is an entrance hallway leading to large reception room, kitchen diner, 3 bedrooms and a bathroom. There is a balcony which is accessed via the kitchen at the rear and also a front balcony which is links the reception room and main bedroom.

The property benefits from having an onsite concierge.

The property is in need of modernisation throughout and would be of appeal to those looking for an impressive place in the city that they can put their own stamp on.

The property has a lease of 78 years remaining, if you are planning on obtaining lending for the property through a traditional mortgage, then please check with your lender prior to bidding. Also note that the property scores a low rating on the EPC and therefore may not be suitable for a buy to let mortgage. Please also see the other information and special conditions for details around the tenure and maintenance fees etc.

To view this property please visit the Hammer Price Homes website, register as a buyer and book your place on an open day.

Location

Clarence Gate Gardens really is prime location, with regents park on its doorstep and a number of London’s other historic landmarks located close by. The property is very well placed for commuters, with Bakers Street tube station and London Marylebone train station both just a short stroll from here.

Other Information

Tenure – Leasehold with 78 years and 11 months remaining (134 years from 20^th July 1967)

Lease – a copy of the lease is available for download from the Hammer Price Homes website. Please ensure you read this prior to bidding.

Ground Rent – £75 per annum

Maintenance Fees – £7,579 for the year 01/04/2022 – 31/03/2023 – This includes a large reserve fund contribution. Please see the service charge apportionment letter which is available for download from the Hammer Price Homes website and shows the expenditure breakdown.

Section 20 notice – please be advised that the freeholder has issued a section 20 regarding scheduled works, this notice and a later letter regarding the estimates has been added to the Hammer price homes website for download. Looking at the figures, you would assume that any costs for the works would be taken from the reserve fund.

Lease extension – should the buyer wish, then the vendor will issue a section 42 notice and pass the rights over to the buyer on completion. The buyer will be responsible for any associated legal fees for the vendors.

Special conditions

If you are planning on purchasing this property through a traditional mortgage, then please check with your lender prior to bidding as there will be no grounds for a return of the reservation fee should you withdraw from the sale due to issues obtaining lending because of the lease term (78 years and 11 months), for anything in the Lease, or for reasons around the low EPC rating (may not be suitable for a BTL mortgage).

Auction Details

** Open for mortgage buyers also. 90 days to complete**

Please note that there is a Reservation fee (3% Inc. VAT) payable by the buyer on winning the auction. The reservation fee does not constitute part of the sale price, this is the auctioneer’s fee and is to be paid over & above the sale price paid to the Vendor.

Auction ends – Thursday 15^th September 2022 at 1pm

Bidding Window Opens – Tuesday 13^th September 2022 (Bidding will not be possible until this time.

Starting price – £899,000 (Reserve price is higher & unpublished, typically the starting price will be 15 – 20% below the Reserve figure as per our Buyer Terms)

Viewings

Bidding is only permitted for those who have viewed. Please register as a buyer on the Hammer Price Homes website and book in for an open day.

How to make an offer

Offers can only be made via the online auction in the form of a bid once the bidding window has opened. No offers will be accepted outside of the auction process.

Once a sale has been agreed (STC) and a price agreed then no further price negotiation will take place. This sale price is fixed at the winning auction price and the buyer honoured to pay it. Any subsequent attempt by the buyer to contact the vendor direct to renegotiate on price would hold the buyer in breach of our terms. Should the buyer withdraw then they may have to forfeit the reservation fee. Please read the buyer terms and FAQ’s on the site for more details.

This property is sold as seen. This is a probate sale so the solicitor / administrator may not be able to answer the usual pre-contract questions.