• Unique Ground Rent Investment in W1

• Overlooking one of London’s most distinguished garden squares in the heart of the West End

• Close to Oxford Street, Regent Street, Bond Street and Harley Street

• Includes 25 Flats & Medical Centre all (sold off) let for 999 years from 2016.

• Total Ground Rent £24,250 per annum exclusive

• To be offered for sale via Knight Frank Auction on Thursday 19th September (unless sold prior)

Property Description

Harcourt House is a Grade II listed Edwardian building overlooking Cavendish Square arranged over Basement, Lower Ground, Ground and Seven Upper floors to provide one of Marylebone’s most beautifully restored developments.

No 19 comprises 25 flats & No 19A comprises a medical centre.

TENURE

Freehold

TENANCY

No.19 (25 flats) is let to HH Tenants Management Limited for a term of 999 years from 3/11/2016 at a passing ground of £24,250 per annum exclusive.

The passing rent is equivalent to the ground rents receivable from 19 residential under leases. 6 flats pay no ground rent. The ground rent from the 19 flats is passed direct to the Freeholder.

For the 19 flats that pay a ground rent the lease provide for RPI Linked rent reviews from 1/04/2040 and every 20 years thereafter.

(A schedule of the 25 underleases is available in the legal pack)

No. 19A (medical centre) is let to MPT Cavendish Limited for a term of 999 years from 03/11/2016 at a peppercorn. The underlease is let to The Royal Marsden NHS Foundation Trust.

Total Ground Rent £24,250 per annum exclusive.

Location

Harcourt House is located on the west side of Cavendish Square in the heart of the West End where Marylebone meets Mayfair and Fitzrovia. The property is close to Oxford Street, Bond Street, Regent Street, Harley Street and diagonally opposite an entrance to John Lewis. The underground stations of Oxford Street (Central, Bakerloo, Victoria lines) and Bond Street (Central, Jubilee & Crossrail/Elizabeth Line) are close by. Hyde Park and Regents Park are both within ¾ of a mile.

Tenure

Freehold

Auction Details: The sale of this property will take place on the stated date by way of Auction and is being sold as on an Unconditional basis. 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 of the purchase price, subject to a minimum of £5,000. The deposit contributes to the purchase price. • Buyer’s Fee- is £1950 including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property. 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 and take professional advice 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 Knight Frank Auctions’ website. 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 Auction Conduct Guide.