1 bed flat for sale

Fernhead Road, London W9

Summary

This well-presented one-bedroom apartment is located on the second floor of Drakeland House, a purpose-built block in the heart of Maida Vale, W9. Offered chain free and sold via secured sale online auction, the property presents a superb investment opportunity with a tenant currently in situ on a rolling contract, paying 1,250 per calendar month. Based on current market conditions, the apartment is expected to achieve a rental income in the region of 1,750 to 1,850 per calendar month if re-let.

Internally, the property offers a spacious and well-balanced layout. There is a bright living room, a separate kitchen/diner, a generously sized double bedroom, and a modern bathroom. A standout feature is the private balcony, accessed via the living room, which provides a pleasant outdoor space rarely found in similar properties. The flat benefits from natural light throughout and a practical, flowing floor plan that makes the most of the internal space.

The lease has approximately 83 years remaining, and the property falls under the City of Westminster council. Drakeland House is conveniently positioned close to an excellent range of local amenities. The cafs and restaurants of Elgin Avenue and Lauderdale Parade are within easy reach, as are the green open spaces of Paddington Recreation Ground and the peaceful walks along Regent's Canal and Little Venice.

Transport links are excellent, with Westbourne Park and Royal Oak stations (Circle and Hammersmith & City lines) both nearby, offering easy access to Paddington, King's Cross and the City. Maida Vale station (Bakerloo line) is also within walking distance, providing direct routes into the West End and Oxford Circus.

Located in W9 this is a well-connected and desirable area for both professionals and investors, making this apartment a strong contender for those seeking long-term value in a prime London postcode.

Council Tax Band: C
Tenure: Leasehold
Length Of Lease: 83

Auctioneers Additional Comments

Pattinson Auction are referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure aml procedures are carried out in accordance with the law

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price, Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.