4 Bed Terraced House For Sale

Property Reference number : 950978An exciting opportunity to renovate a house with permission to more than double its size. It has the rare benefit of only 5% VAT on works, worth tens of thousands in savings*.

Permission has been obtained for a rear extension, loft conversion, a light-flooded basement and a garden building. The property is situated in a tree-lined avenue in North Kensington (RBKC), with a charming west-facing garden and a private turfed lane at the rear.

The original house comprised 3 bedrooms, 2 reception rooms, 1 bathroom (93 sqm / 1001 sqft + rear garage), and it's been stripped back to the original structure by the current owner, ready to be refurbished.

The Council granted permission for up to 3 large reception rooms, 4-5 bedrooms, 4-3 bathrooms, 1 utility room, 1 garden building, totalling up to GIA 237 sqm / 2551 sqft, as follows:

- above-ground house (131 sqm / 1411 sqft)
- basement (71 sqm / 770 sqft)
- garden building (35 sqm / 376 sqft)

Should less space be needed, permission has been secured also for a smaller extension. Please refer to the attached floorplans, schedule of areas, list of planning applications, and feel free to enquire for more information.

The asking price includes the handover of surveys and design information:

- 100+ drawings by the renown architectural firm HONE Studio (RIBA Stage 4**)
- full structural design by Axiom Ltd (RIBA Stage 4**)
- NBS specifications
- surveys, including geotechnical / drainage

* The asking price includes a Council's certificate as an Empty Property, allowing for 5% VAT on works, instead of 20%.

FINANCING:
If needed, there are brokers specialised in "buy-to-refurbish mortgages", who could also finance the cost of works. Alternatively, a temporary kitchen and bathroom could be installed to secure a traditional residential mortgage, subject to lender's requirements.

STRUCTURES:
Further to visual inspections, the main house structures appear in good state of repair, generally, including the roof. No major structural cracks are visible and there is no history of subsidence. Surveys are available upon request. Structures have been exposed and can be easily inspected ***

VISITS:
Please use the contact details reported on this webpage. All messages and calls will be automatically forwarded to the owner, who will answer directly and arrange the viewings.

COMPARABLE SALES:
These two houses were virtually identical to the one proposed herein when sold, but they did not benefit from any planning permission and did not have the reduced 5% VAT rate on works:
- 35 Pangbourne Ave. £1,450,000, sold in Dec 2022 (house next door)
- 41 Pangbourne Ave. £1,375,000, sold in Aug 2022 (with smaller garden)

WORKS ESTIMATES:
- Above-ground works (no basement): from £270,000 +5%VAT. Duration: 5-6 months.
- Full extension (above-ground works plus basement): from £700,000 +5%VAT. Duration: 10-12 months.

DISCLAIMER:
Areas are approximate. Design information, surveys and related documents will be supplied without warranties or guarantees. The current owner retains sole licence until a sale is agreed. The supplied EPC certificate is for the house as it was just before being stripped out (after works, the EPC as-designed is for rating C). Computer Generated Images are indicative only and all works are to be carried out by the buyer. The house is currently Council Tax exempt but it will have to be re-registered once habitable. ** Full design to Stage 4 has been developed for one of the several options, but planning has been granted for all. Party Wall matters are well progressed but not finalised yet. ***The purchaser has to satisfy themselves that structures are in good state of repair and no warranties nor guarantees are provided by the seller. Quotes and duration of works are indicative.

H&S:
Visitors can enter only at their own risk. Known hazards include (but are not limited to): uneven floorboards, no balustrades protecting the stair (falling from height), trip hazards, nails and other sharp items, dust, trial pits, uneven paving in front and rear garden, etc.

Council Tax: Council tax exempt

WARNING: Never transfer funds to a property owner before viewing the property in person. If in doubt contact the marketing agent or the Citizens Advice Bureau.

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VIEWING DISCLAIMER: Quicklister endeavour to ensure the sales particulars of properties advertised are fair, accurate and reliable, however they are not exhaustive and viewing in person is highly recommended. If there is any point which is of particular importance to you, please contact Quicklister and we will be pleased to check the position for you, especially if you are contemplating traveling some distance to view the property.

Property Reference number : 950978