Wilmington Square, Clerkenwell

A well-presented one-bedroom apartment extending to approximately 354 sq ft, ideally positioned on the highly desirable Wilmington Square, WC1X, offering an excellent opportunity for first-time buyers, investors or purchasers seeking a centrally located London home.
The apartment is presented in good condition throughout and features a bright open-plan kitchen and reception room, measuring approximately 14’1″ x 11’1″, providing a comfortable space.
The accommodation further comprises a separate bedroom, contemporary bathroom & useful built-in storage. The floorplan provides an approximate gross internal area of 354 sq ft, with a practical and efficient layout.
The property is offered with approximately 56 years remaining on the lease & has therefore been priced with the lease length in consideration. Under the current lease-extension valuation framework, an indicative premium of approximately £40,000 has been suggested; purchasers should obtain their own specialist valuation and legal advice.
Importantly, the Leasehold and Freehold Reform Act 2024 provides for significant future changes to the statutory lease-extension system. Once the relevant provisions are brought into force, the reforms are intended to introduce 990-year extensions at a peppercorn ground rent, remove marriage value from the calculation and change the valuation methodology. These changes could materially reduce extension costs for some short-lease properties, although the final cost for this apartment cannot currently be predicted and the key valuation provisions are not yet in force.
Wilmington Square provides an attractive central London setting within easy reach of Clerkenwell, Angel, Farringdon and King’s Cross, with excellent restaurants, cafés, shops & transport connections nearby.
A compelling opportunity to acquire a well-presented apartment in a prime WC1X location, with the short lease reflected in the proposition and potential to benefit from from forthcoming leasehold reform.