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Lot 5 Click here for addendum

Vacant 515 sq ft Office
6 Week Completion

Situation

Located within this attractive cobbled mews directly off Harley Street and being midway between New Cavendish Street and Queen Anne Street. The various shopping facilities and eateries in Marylebone High Street are within close proximity and Regent's Park is within easy walking distance. Nearest Underground Stations include Bond Street, Baker Street, Oxford Circus and Regent's Park.

Property

An attractive corner mews building comprising a Self-Contained Ground Floor Office with its own street entrance (B1(a) Use - see Note 1) which has full fibre broadband installed together with a Mews House, 2 Self-Contained Flats and 3 Garages.

VAT is NOT applicable to this Lot

Tenure

Leasehold - The entire property is held on a full repairing and insuring lease for a term of 99 years from 6th July 1958 (thus having approx. 38 years unexpired) at a current ground rent of £8,600 p.a. In June 2020 and every 5 years thereafter the ground rent is reviewed to 33% of the full rental value of the ground floor office (No. 5 Harley Place).

Note 3: The Vendor insures the property. Current sum insured is £1,979,916. Current premium is £3,579.38 p.a. (incl. IPT) of which the majority is received from the residential lessees.

Note 4: In accordance with s.5B of the Landlord & Tenant Act 1987, Notices have been served on the lessees and they have not reserved their rights of first refusal. This lot cannot be sold prior to the Auction.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,000 plus VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

3, 4, 5 & 6 Harley Place, Marylebone, London W1G 8QD