1 bedroom flat for sale

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 cafés 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.

Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

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'.

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 of the property. The deposit will be a contribution to 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 required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.