50 KENSINGTON GARDENS SQUARE, BAYSWATER, LONDON W2

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1 50 Kensington Gardens Square is an inspiring example of heritage and contemporary combined. A boutique collection of just 30 beautifully appointed apartments and one penthouse situated in Bayswater, just moments away from the rolling green spaces of Hyde Park. Impeccable levels of design, detail, specification and appointment combine seamlessly to create a first-class living experience in one of London s most sought after areas. The Developer Versant Developments Location 50 Kensington Gardens Square, Bayswater, London, W2 4SA Local Authority London Borough of Westminster Tenure 980 year leasehold Estimated Service Charge 6.70 PSF Anticipated Completion Q Pricing Studios from 786,500 1 Beds from 975,500 2 Beds from 1,537,000 3 Beds from 3,227,000 Net internal floor areas Units from: 560 2,540 sq. ft. Ground Rent Studios: 500, 1 Beds: 750, 2 Beds: 1000, 3 Beds: 1,250 (PA) Warranty BLP Latent defect insurance Parking X17 right to park underground car parking 130,000K each (First come first served) X2 Zip Cars free one year membership Page 1 of 12

2 GENERAL SPECIFICATION GENERAL Engineered timber floor finishes to hallway and studio space Multi-point locking and spy hole to apartment entrance doors Mains supplied smoke detectors Power and telephone points to be provided to all apartments with facility for wireless intruder alarm to be fitted by tenant/owner at later date Fitted wardrobe to all bedrooms KITCHENS Stainless steel 1 ½ bowl under mounted sink and stainless steel mixer tap Brushed stainless steel socket outlets above work surfaces Recessed LED ceiling downlights Miele stainless steel multi-function oven (Pureline 8 function) Miele integrated fridge / freezer 222l fridge 72l freezer Miele integrated multi-function dishwasher Miele four zone hob, touch control frameless Miele re-circulating integrated extractor Composite stone work surfaces with back painted glass/mirror splash backs HEATING/COOLING Metered water / electric supply Comfort cooling to reception room and master bedroom Plumbing for washer / dryer within vented utility cupboards Underfloor heating to all rooms ELECTRICAL FITTINGS & AV Television points to reception room (satellite and terrestrial) Cat 5 wiring for telephone and data point LED lighting throughout, including feature coffer to main space Polished chrome light switches and power sockets Dimmer system to lighting Video entry system viewed by individual apartment handset / screen Hardwired doorbell to all apartments Miele combi washer / dryer FACILITIES 24-hour concierge Access to the buildings Health Club (includes a newly refurbished gym, pool and squash court) Free car club membership (direct secure access from the underground car park to the apartments) BATHROOMS Double ended white steel bath with bath filler and removal panel Polished chrome pull out hand shower Polished chrome ceiling mounted showerhead and glass shower screen to baths where applicable. Polished chrome concealed thermostatic mixer/diverter White wall hung basin with polished chrome monobloc mixer tap Mirror cabinets with shelving and sockets White wall hung WC pan with soft close seat cover. Concealed cistern and dual flush plate Polished chrome ladder style thermostatically controlled heated towel rail Large format porcelain tile to floor and selected walls Extraction / ventilation system Recessed down lighting Toilet roll holder and robe hooks Page 2 of 12

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6 TRANSPORT LINKS UNDERGROUND & RAIL ZONE 1 LOCATION THE IDEAL LOCATION TO EXPLORE CENTRAL LONDON 50 KENSINGTON GARDENS SQUARE IS CLOSE TO 3 STATIONS BAYSWATER UNDERGROUND STATION, QUEENSWAY UNDERGROUND STATION, AND PADDINGTON UNDERGROUND PADDINGTON RAILWAY AND UNDERGROUND STATIONS. With a range of transport links on your doorstep, 50 Kensington Gardens Square is the ideal location from which to enjoy the capital. By tube, rail or bus, many of Central London s key destinations are a stone s throw away. Bayswater (Underground Station) 0.3 miles* Est 5 minutes walk Queensway (Underground Station) 0.4 miles* Est 8 minutes walk Average walking times and distances: Source: walkit.com* Times from Bayswater (Underground Station); Average journey times to; Paddington Station 2mins** High Street Kensington 3mins** Baker Street 7mins** Euston Square 11mins** Victoria 12mins** Kings Cross 13mins** Westminster 15mins** Times from Queensway (Underground Station); Average journey times to; Shepherds Bush Station (access to Westfield s) 4mins** Paddington Station 5mins** Oxford Street 6mins** South Kensington 6mins** Regents Park 7mins** Knightsbridge 10mins** Covent Garden 11mins** Bank 15mins** Average underground journey times from Bayswater Underground Station & Queensway Underground Station: Source: tfl.gov.uk** CROSSRAIL ( ) PADDINGTON STATION 2 MINS AWAY** Page 6 of 12

7 TRANSPORT LINKS UNDERGROUND, CROSSRAIL & RAIL ZONE 1 LOCATION Crossrail is a joint venture between Transport for London and the Department for Transport to build a new railway linking Maidenhead and Heathrow in the west, to Shenfield and Abbey Wood in the east. Crossrail will provide high frequency, safe and comfortable journeys, carrying 78,000 passengers per hour in peak times. Construction on The Elizabeth Line has already started, with the central section expected to be complete by the end of Elizabeth Line - Crossrail from Paddington Station (From 2018 onwards) 2 minutes from Bayswater Station** Average journey times from Paddington Station; Bond Street Station 3 minutes *** Tottenham Court Road Station 4 minutes*** Liverpool Street Station 10 minutes*** Canary Wharf Station 17 minutes *** Stratford Station (Westfield s Shopping Centre) -19 minutes *** Heathrow Central T minutes *** Average proposed Crossrail journey times from Paddington Station. Source: crossrail.co.uk*** Average underground journey times from Bayswater Underground Station: Source: tfl.gov.uk** RIVERBOAT ACCESS TOWER MILLENNIUM PIER 14 MINS WALK AWAY* Page 7 of 12

8 LONDON UNIVERSITIES AND COLLEGES Imperial College London South Kensington Campus, Exhibition Road, London SW7 2AZ 10 mins drive* Bayswater Station to South Kensington Station 7mins** UCL University College London Gower Street, WC1E 6BT 11mins drive* Queensway Station to Warren Street Station 11mins** University of London Senate House, Malet Street, London, WC1E 7HU 16 mins drive * Bayswater Station to Goodge Street Station 24mins** London School of Economics Houghton St, London WC2A 2AE 16mins drive* Queensway Station to Temple Station 21mins** University of Westminster University of Westminster, 309 Regent St, City of Westminster, W1B 2UW 12 mins drive* Queensway Station to Oxford Circus Station 6mins** King s College London Stamford Street, London, SE1 8WA 17mins drive* Bayswater Station to Southwark Station 22mins** London Business School 26 Sussex Pl, London NW1 4SA 11 mins drive * Bayswater Station to Baker Street Station 7mins** Average underground journey times from Bayswater & Queensway StationS: Source: tfl.gov.uk** Driving/Walking times: Source: googlemaps.co.uk* Page 8 of 12

9 AREA INFORMATION BAYSWATER Whiteleys Shopping Centre 10 metres from 50 Kensington Gardens Square Situated a stone s throw away from 50 Kensington Gardens Square is the iconic Whiteleys Shopping Centre. In June 2015, renowned London architects Foster & Partners released proposals for the Whiteleys regeneration project to reimagine the historic landmark for 21st century life The proposed development will maintain the classical facade of the Grade II listed shopping centre, while enhancing its retail offering, as well as introducing new local amenities including a boutique hotel, cinema and restaurants. The renowned Whiteleys of Bayswater provides ample opportunities for shopping, eating and leisure, while nearby restaurants such as Nobu, San Lorenzo, Zuma and Hakkasan celebrate London s status as a centre of fine global cuisine Page 9 of 12

10 AREA INFORMATION KENSINGTON GARDENS/HYDE PARK Kensington Gardens & Hyde Park Kensington Palace is a royal residence set in Kensington Gardens, in the Royal Borough of Kensington and Chelsea in London, England. It has been a residence of the British Royal Family since the 17th century, and is the official London residence of the Duke and Duchess of Cambridge, Prince Harry, the Duke and Duchess of Gloucester, the Duke and Duchess of Kent, and Prince and Princess Michael of Kent. Today, the State Rooms are open to the public and managed by the independent charity Historic Royal Palaces, a non-profit organization that does not receive public funds. The offices and private accommodation areas of the Palace remain the responsibility of the Royal Household and are maintained by the Royal Household Property Section. Hyde Park is one of the largest parks in London, and one of the Royal Parks of London, famous for its Speakers' Corner. The park was the site of the Great Exhibition of 1851, for which the Crystal Palace was designed by Joseph Paxton. The park is divided in two by the Serpentine and the Long Water. The park is contiguous with Kensington Gardens; Hyde Park is the largest of four parks which form a chain from the entrance of Kensington Palace through Kensington Gardens and Hyde Park, via Hyde Park Corner and Green Park (19 hectares), past the main entrance to Buckingham Palace and then on through Saint James's Park (23 hectares) to Horse Guards Parade in Whitehall. Page 10 of 12

11 COUNCIL TAX BANDS FOR 2015/ BAND A BAND B BAND C BAND D BAND E BAND F BAND G BAND H , , DOCUMENTATION REQUIRED FOR EXCHANGE OF CONTRACT 1. Passport / ID card 2. A current utility bill (not mobile phone) or bank statement showing name and home address If neither document can be provided then:- 1. An Inland Revenue demand or 2. A letter from employer stating home address Please be advised that the solicitors must see the original copies of the above. OTHER ASSOCIATED BUYING FEES 1. Non-refundable booking deposit of 5,000 payable upon reservation / exchange of contracts ( 10,000 for the PH) 2. 10% of purchase price, less booking deposit paid, payable within 14 days after exchange of contract 3. Balance of 90% payable on completion PURCHASER LEGAL FEES 1. For purchases up to 999,999 legal fees are 1,900 plus VAT and disbursements 2. For purchases between 1,000,000-1,799,999 legal fees are 2,300 plus VAT and disbursements 3. For purchases between 1,800,000-2,299,999 legal fees are 2,900 plus VAT and disbursements 4. For purchasers on or over 2,300,000 + legal fees are by negotiation STAMP DUTY How to calculate the new Stamp Duty rate: So, if you bought a property for 850,000 you would you pay no stamp duty on the first 125,000, then 2% on 125,000 to 250,000 and 5% above 250,000. (eg: 800, ,000 = 600,000 x 0.05 = 30, ,500 = 32,500). As the property price increases the rate of pay increases within a certain tax bracket with percentages rising when a higher price threshold is reached. Under the new SDLT property over 925, m will be taxed at a rate of 10% compared with 5% in For more information go to 0% of the first 125,000 of property price 2% of the next 125,000 of property price 5% on the next 675,000 of property price 10% on the next 575,000 of property price 12% on the rest of property price (over 1.5 million) Page 11 of 12

12 STAMP DUTY - BUY TO LET OR SECOND HOMES Buy-to-let and second homes Stamp Duty 2016 From April 2016, property buyers in England and Wales will have to pay an additional 3% on each stamp duty band. For more information go to Buy-to-let and second home Stamp Duty tax bands Brackets Standard rate Buy-to-let/second home rate (April 2016) Up to 125,000 0% 3% ,000 2% 5% ,000 5% 8% m 10% 13% over 1.5m 12% 15% VENDOR S SOLICITORS Burges Salmon Address: 6 New Street Square London EC4A 3BF Contact: Ms Zoe Longman/ Mr Alex Finney Tel: +44 (0) [email protected]/ [email protected] RECOMMENDED PURCHASER S SOLICITORS Riseam Sharples Address: 2 Tower Street London WC2H 9NP Contact: Mr Eugene Tan Tel: +44 (0) [email protected] RECOMMENDED LETTINGS & MANAGEMENT AGENTS Fraser & Co 11 Westcliffe apartments 1 South Wharf Road Paddington W2 1JB Contact: Debbie McCreesh Tel: +44(0) [email protected] Disclaimer The information contained in this document is from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted herein subject to the possibility of errors, omissions or changes without notice. Where we have provided information, views or responses, they are based on the source information we have received we included opinions, assumptions or estimates for examples only, and they may not represent current or future performance of the property. You and your advisors should conduct your own review and investigate before relying on the information in this document. 6/21/16 Page 12 of 12