Carter Jonas
Carter Jonas

If you own a mews house

2 bed in Knightsbridge
Sold 2012 for £2.250m
ARPT now applicable
A valuation will be required due to the price being so close to the £2m price bracket
Owners could consider renting the property, which would provide a yield of 2.89%
image A charming 2 bedroom house in Cheval Place, SW1 (1216 sq ft) which is a quiet road in the heart of Knightsbridge. The property was sold by Carter Jonas at the end of 2012 for a guide price of £2.250m.

The property if purchased in a non-natural name will now be affected by the Annual Residential Property Tax (ARPT) as it is worth £2m plus with an annual charge of £15,000. A valuation would be required for ARPT purposes as the purchase price is not deemed relevant for submission and the value is close to the £2m price bracket.

If the owners are not planning on occupying the property they may consider renting the property to a third party on a commercial basis, which falls under one of the exemptions. A recent rental appraisal carried out by our Knightsbridge & Chelsea office of £1,250 per week would provide a yield of 2.89%.

Lisa SimonMARLA

Partner - Head of National Residential Lettings

Lisa is the head of Residential Lettings at Carter Jonas. Lisa is based in our Mayfair office and advises on all aspects of letting and managing property. Lisa resides in West London with her hu...

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0207 758 9689

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