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24 Curzon Street , Mayfair, London
£22,000,000
On instructions of benjamin tobin and paul joseph of strettons, as receivers
Kings Beeches comprises a vacant site that extends to circa 45 acres of land, located between Ascot and Sunningdale in Berkshire.
We understand that there was originally a large Arts and Crafts mansion house on the site with outbuildings including a coach house and lodge. The estate was formerly in the ownership of the King of Thailand who occupied the property as his UK base until approximately the mid-1970s. The estate subsequently fell into disrepair and was demolished circa 20 - 25 years ago.
Subsequently, planning was sought and granted for a substantial replacement country house. A summary is set out below.
Planning
Kings Beeches has an extant implemented planning consent to create a new build mansion with extensive ancillary accommodation. The land is gently sloping and benefits from good views from the upper plateau where the consented house would be located.
Kings Beeches lies within the Green Belt and The Thames Basin Heaths Special Protection Area (the spa). Furthermore, it is designated as a Local Wildlife Site (lws). The site has been the subject of a number of applications over the last thirty years; however, the most significant of these are as follows:
94/01295/out Demolition of existing and erection of a detached residence with majlis and associated service buildings, servants apartments, stables and horse training area plus new gates and guard houses at Bagshot Road and Devenish Road entrances.
Permitted, 07.02.1995.
95/01415/rem Demolition of existing & erection of detached residence with majlis & associated service buildings, servants apartments, stables/horse training area, new gates & guard houses at Bagshot Road and Devenish Road entrances.
Permitted, 09.01.1996.
15/02964/cpd Certificate of lawfulness to determine whether the works undertaken amount to commencement of permission 94/01295/out for the erection of the new dwelling and other buildings as approved under 95/01415/rem can continue following the demolition of the original dwelling.
Issued 09.02.2016.
The planning documents are available on the Royal Borough of Windsor & Maidenhead public portal. Click here to view the documents online.
The breakdown of the consented buildings (internal areas) is as follows:
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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