A purpose-built first-floor studio apartment in Chelsea, London, in need of modernisation and with less than five years remaining on the lease (Title number: NGL452776)
SOLD BY AUCTION FOR £189,000: To be sold by public auction on the instruction of the attorney on Friday, 23 June 2023. A purpose-built first-floor studio apartment in Chelsea, London, in need of modernisation and with less than five years remaining on the lease. Located on Chelsea Manor Street and near St Luke’s Gardens, this property is a unique opportunity to buy a studio apartment in a popular location.
Auctioneer's comments: "This Lot offers the winning bidder the potential to force the appreciation by both modernising the studio and extending the lease. There will be no Section 42 offered in the legal pack, and bidders are to make their own estimation of the possible lease renewal costs."
Auction date
The property is to be sold by public auction on Friday, 23 June 2023 via a 2-hour online bidding window.
Description
Low lease, studio apartment, first floor, purpose-built, in need of modernisation
Location
Chelsea, London
Accommodation
First floor: entrance hall, bathroom, kitchen, studio
Outside
Communal gardens
EPC rating
To be confirmed
Tenure
Leasehold with vacant possession
Term: 16.12.1982 to 20.3.2028
Local authority and council tax band
The Royal Borough of Kensington and Chelsea
Council tax band: D
Pre-auction bids
To make a pre-auction bid, you must be an approved bidder. Once you have set up your online bidding account, verified your ID and paid the security deposit, you can email the amount you would like to bid. The common auction conditions and special conditions apply to all pre-auction bids, and no conditions will be acceptable. Should your pre-auction bid be accepted, you will need to immediately pay the balance of the 10% deposit (min. £5,000) and all auction fees listed. The Auctioneer reserves the right to refuse any bid.
Auction fees
In addition to the 10% deposit (min. £5,000) of your winning bid, you must pay an auction buying commission of 3.5% plus VAT (min. of £7,000 plus VAT) of the purchase price and auction buying fee of £1,900 plus VAT. Please be aware that additional fees may be payable on completion, including disbursements in the legal pack. Check the legal pack for each lot you are interested in before bidding.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Lot 66 - Flat 24 Daver Court, Chelsea Manor Street, London, SW3 3TS
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