Foxtons says ..

Property Oracle says ..

This property is a 3-bedroom, 2-bathroom flat located in Lancaster Gate, a prestigious area of Westminster, London.

The flat boasts a significant size of 2,391.74 sqft. Given its location and size, it commands a list price of £3,500,000.

The location is excellent, with proximity to Hyde Park, excellent schools such as St James & St John Church of England Primary School (rated ‘Good’ by Ofsted) and L’Ecole Bilingue Elementaire (rated ‘Outstanding’), and convenient access to Paddington Station via public transport. This contributes to a high desirability and potential for strong rental income.

Based on the images provided, the property appears to be in excellent condition. It has been recently renovated or refurbished to a high standard, featuring modern fixtures and fittings, stylish interior design, and a contemporary kitchen and bathrooms. There is no visible evidence of disrepair or the need for renovation.

The property does not appear to include any outdoor space, such as a garden or patio, which is typical for flats in this area of London. This is a factor to consider in the overall assessment.

Considering the average price per sqft in the area (£2,053) and the property’s size (2,391.74 sqft), a rough estimate of the expected price would be around £4,900,000. However, the list price of £3,500,000 is significantly lower than this estimate. While the lack of outdoor space might justify a lower price compared to houses with gardens, the discrepancy is substantial. Further investigation into comparable properties and market trends would be needed to fully determine if the list price represents good value. The lower price could be due to a number of factors including a shorter lease term, service charges or other factors not listed.

Therefore, we give this property 7 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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