Interested parties should contact Knight Frank Auctions for further information.

Description
This two bedroom apartment is arranged on the third floor of a residential building located moments from Hyde Park. The apartment offers outside space with views towards Hyde Park and building Porter. Enter into a wide hallway with ample storage, this hallway divides the property with the reception to the front and the living areas to the rear. The reception is a nice spacious room with ample room for dining and entertaining while also giving access to a private balcony. The kitchen features lots of worktop space, breakfast bar and integrated appliances. The two bedrooms are of equal size and benefit from fitted storage, while the principal suite offers an en suite bathroom. There is also a contemporary tiled shower room.

Location
Porchester Terrace is a residential road situated moments from the open spaces of Hyde Park and the many shopping amenities of Queensway. The nearest underground stations include Queensway (Central line) and Bayswater (Circle and District line). Paddington mainline (Heathrow Express and Network Rail) and underground (Circle, District, Bakerloo and Hammersmith and City lines) station is within easy reach. Porchester Terrace is also perfectly positioned for the new Crossrail which opened in May 2022 and offers faster journey times into the City and Canary Wharf.

Occupancy
Vacant

Tenure
Leasehold

Leasehold Information
Length of lease: Held for a term of 99 years from 24 June 1973 (thus having approximately 49 years unexpired)
Current ground rent: A current ground rent of £41.25pa as at Feb 2022
Ground rent review period: TBC
Current service charge: £5,856.30pa as at Feb 2022
Service charge review period: TBC

This information should be clarified in the legal pack and we'll update the information above when we receive it.

Buyers Fee
The buyers fee is £1,500 including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property.

Auction Details
The sale of this property will take place on the stated date by way of Timed Auction BUY-IT-NOW and is being sold as Unconditional.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to the Common Auction Conditions and Extra General Conditions.

Auctioneer Fees and Deposit
The following deposits and non-refundable auctioneer fees apply:

• 10% deposit, subject to a minimum of £5,000. The deposit contributes to the purchase price.
• Buyer’s Fee- the value of this fee will be listed against the property details, inclusive of VAT.

The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees contained within the Special Conditions of Sale, which can be viewed within the Legal Pack. You are strongly advised to read the Legal Pack carefully before bidding.

Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

The property is available to purchase immediately at the available price listed on the lot. In some exceptional circumstances there may be a delay in processing your registration. If this delay results in another person placing a successful offer, SDL Property Auctions are not liable to you for any loss of opportunity.