Land for sale in Long Leasehold interest of 70 - 72 Westbourne Terrace, Paddington, London, W2 6QA

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