Tuesday, May 24, 2022

One down

Lennox Gardens flat with just one year left on lease sells for £550,000

 

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Indication of London’s somewhat bonkers property market has been illustrated in news that a one bedroom flat in Knightsbridge’s Lennox Gardens has sold for a staggering £550,000 on a lease that had just one year remaining.

 

The flat is situated on the favoured western side of Lennox Gardens
The flat is situated on the favoured western side of Lennox Gardens

The 1,012 square foot first floor property – which was sold by agents Henry & James after the “tragic and unexpected death of the owner, intestate” – was guided at just £150,000 but a “flurry of interest” resulted in the winning bid being a sum that was a staggering £400,000 higher.

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The apartment includes a large reception room
The apartment includes a large reception room
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And one good sized bedroom
And one good sized bedroom
In addition, there is a good sized terrace to the rear
In addition, there is a good sized terrace to the rear

 

The purchaser – who has not been named – will now have to spend an estimated £2 million if they wish to purchase a 90-year lease with the property’s freeholder, The Wellcome Trust. A bargain at twice the price?

 

 

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