Vast Belgravia artists’ studio goes on sale for just £1.3 million, but of course, there is a catch and that is the extorionate ground rent
A 2,124 square foot artists’ studio in Belgravia has gone on sale for just £1.3 million or the equivalent of £612 per square foot. There is, of course, a catch and that is that the ground rent is a staggering sum of £58,000 per year.
Featured in The Steeple Times when last offered for sale for £995,000 in November 2017, the opulently decorated ground and first floor property available provides not only a double height 23’9” by 20’6” reception room but also a dining room and kitchen. There are also 3 bedrooms and 2 bathrooms and the space is described as being “for those involved in arts and media.”
The lease on the space is described as having been “renewed for 15 years with the Grosvenor Estate and agents Lurot Brand remark: “The grandeur and scale of this property is extraordinary in both charm and character.”
The Numbers – Ground and First Floor Apartment, Bradbrook House, Kinnerton Street, London, SW1X 8EL, United Kingdom
- August 2020 – Offered for sale for £1.3 million ($1.7 million, €1.4 million or درهم2.4 million) by agents Lurot Brand.
- August 2020 – Ground rent of £58,000 per year ($76,000, €64,000 or درهم278,000 per year), an increase of 9.4% on the sum in 2017.
- November 2017 – Marketed for £995,000 ($1.3 million, €1.1 million or درهم4.8 million) by Kinleigh Folkard & Hayward.
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My God, and I thought I liked busy.
In my next re-incarnation I’m going to get rid of the concept of leasehold. The Grosvenors will doubtless fight me tooth and nail on that one.