3 bed Terraced house (for sale) Elm Park Road, London SW3

£3,250,500
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Milton Stone
53 Abingdon Road, London
020 3641 5494
First Published

13th Jul 2018

Last Published

6th Mar 2019

 

Features

  • Type: Terraced house
  • Bedrooms: 3
  • Listing status: sale
  • Country: England

Description

Description

We are offering for sale the potential to acquire the Freehold interest in this above house with huge development potential (stp) currently comprising three units, being a garden flat, a ground and first maisonette and a second and third maisonette. The sale is with vacant possession of Flats 1 and 3 which currently have lease lengths expiring on 14th March 2037, but with the purchase of the freehold can easily be extended to 999 years.

The ground and first floor maisonette ( Flat 2) is currently being held on a long lease expiring on 14.3.2127 but contains a Landlord`s section 61 development right . (As set out in the Leasehold Reform, and Urban Development Act 1993 as this lease was previously extended under that act)

under the terms of the legislation, A freeolder has the right to recover possession in order to redevelop the property by giving notice of their intention to develop prior to the expiry of the of the initial lease, before it was extended, which in this instance is 14/03/37, where the market price can be negotiated. An approximate estimate today could be in region of £2,000,000 to £2,500,000 subject to contract.

There is a current planning application to add a further floor to the current second and third floor maisonette and a pre-application which can be viewed in our offices for any future planning applications for the building.

 

Local info for SW3

Floor plan

 

Property Value Data/Graphs for SW3

Property Type % Avg. current value Avg. # beds Avg. # bathrooms
Flat 62% £1,640,153 1.9 1.3
Terraced house 10.9% £6,152,206 4.4 2.9
Studio 10.4% £496,881 0 0.8
Other 6.3% £4,981,667 3.8 2
Detached house 3.2% £5,097,250 4.5 3.7
Maisonette 2.2% £2,623,854 2.6 1.5
End terrace house 1.9% £4,528,750 4.3 3.5
Mews house 1% £2,524,167 2.8 1.2
Town house 0.6% £8,350,000 5.3 3.5
Semi-detached house 0.5% £6,566,667 5.3 2.7
Parking/garage 0.5% £203,333 0 0
Houseboat 0.5% £286,667 1.7 1

Area Information

Average Price Paid

£2,335,091

Sales

2260

Current Average Value

£2,471,812

Value Change

£136,721 5.9%

 

Current Asking Prices in SW3 Average: £2,471,812

Property Type 1 Bed 2 Beds 3 Beds 4 Beds 5 Beds
Houses £810,000 (5) £2,067,308 (13) £3,786,667 (36) £4,191,125 (40) £6,841,471 (34)
Flats £835,798 (146) £1,567,048 (163) £3,139,462 (78) £3,245,385 (13) -
All £834,944 (151) £1,603,999 (176) £3,343,842 (114) £3,959,151 (53) £6,841,471 (34)

Nearby Properties

1 bed Flat () Greenwich, Greenwich SE10 £0
2 bed Flat () Wesley Avenue, London E16 £400,000
2 bed Flat () Principal, Worship Street, London EC2A £1,268,000
2 bed Flat () Principal, Worship Street, London EC2A £1,246,000
2 bed Flat () Principal, Worship Street, London EC2A £1,229,000
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