Formosa Street, Maida Vale, W9

Offers in the Region of £3,400,000
6 Bedrooms 3 Bathrooms 2 Receptions

A rare opportunity to acquire this attractive, mid terraced, part stucco fronted period house (2641 sq ft / 245 sq m) located on a quiet residential street in the heart of Little Venice which has been in the same ownership for 40 years. This Victorian property is currently divided in two 3 bedroom apartments, with potential to convert into four apartments or a single house thereby creating a substantial family home.

The ground and lower ground floor maisonette, which has its own entrance, comprises a reception room with feature fireplace, separate kitchen, three spacious double bedrooms, two bathrooms and benefits from high ceilings, access to a paved courtyard at the front and French doors leading to a west facing garden at the rear. The first and second floor maisonette is accessed via the main entrance and comprises three bedrooms, reception room with high ceilings, fully fitted eat-in kitchen, family bathroom and a further guest cloakroom.

Overall, the house offers bright and airy accommodation throughout with expansive entertaining areas whilst boasting a mixture of contemporary amenities with original period features. Formosa Street is conveniently located close to the shops, bars and restaurants of Little Venice, Warwick Avenue, Bristol Gardens and along the Grand Union Canal. The property is well connected with transport links at Warwick Avenue (Bakerloo Line) and Paddington mainline stations together with a network of local bus services serving the surrounding area. Freehold. Chain free.

Interested in this property? Call us on 020 7722 2223 or

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Stamp Duty Calculator

What level of Stamp Duty should you be paying? Use our Stamp Duty calculator tool to calculate the stamp duty charged on purchases of property in the UK.

Stamp duty rates (SLDT) on UK property transactions are linked to the price paid for a purchase.

Stamp duty is calculated over a number of different thresholds with clear delineation between the differing rates and is payable by the purchaser when buying a property, usually through the solicitor on completion of sale.

The rates for commercial property are different to residential and our calculator will offer guidance on residential property only.


STAMP DUTY FOR FIRST TIME BUYERS

A first time buyer is classified as someone who has never owned a residential property abroad or in the UK, including leasehold properties.

First time buyers cannot get stamp duty relief on buy-to-let properties and the purchase must be your only residence.


STAMP DUTY WHEN BUYING AN ADDITIONAL PROPERTY OR A BUY TO LET

Tax is applied to properties bought as an additional home or a buy-to-let and will apply even if the property isn’t let out. However mobile homes, houseboats and caravans are classed as exempt. For most transactions the higher stamp duty will only apply to purchases of buy-to-let or additional homes.

Someone who already owns an additional home or buy-to-let, who plans to move house should also be exempt from the higher stamp duty rate, as the owner plans to replace their main residence.


Non UK residents

If you’re not present in the UK for at least 183 days (6 months) during the 12 months before your purchase you are ‘not a UK resident’ for the purposes of SDLT.

You’ll usually pay a 2% surcharge if you’re buying a residential property in England or Northern Ireland on or after 1 April 2021.


Stamp Duty Holiday

With the Stamp Duty Holiday Extension beginning to wind down, here we have highlighted the main points of the scheme and what is to come.

Up to 30th June 2021: The current Stamp Duty Holiday, where the temporary increase to the amount that a purchaser can pay for a residential property before they pay any tax is due to change on 30th June 2021. Up to this date, no stamp duty is due on the first £500,000 of a property purchase, including first time buyers but not on second homes

From 1st July 2021: A staged withdrawal of the Stamp Duty Holiday scheme, is due to begin on 1st July 2021. That said, there is still some relief even though the banding has changed. From this date, there is no stamp duty to pay on the first £250,000. This does not apply to first time buyers however, who will adopt the pre-holiday £300,000 bracket These rates will run until 30th September 2021.

From 1st October 2021: The Stamp Duty Holiday will end on 30th September. As of 1st October 2021 the Stamp Duty rates will return to the pre-relief figures; detailed In the chart below, and first time buyers will remain exempt on the first £300,000 of the property price.


Stamp Duty Rates from 1st July - 30th September 2021*


Purchase PriceRate for Main ResidenceRate for Additional Properties
Up to £250,000 (£300,000 for First Time Buyers) 0% 3%
£250,001 - £925,000 5% 8%
£925,001 - £1,500,000 10% 13%
£1,500,001+ 12% 15%

Stamp Duty Rates from 1st October 2021*


Purchase PriceRate for Main ResidenceRate for Additional Properties
Up to £125,000 (£300,000 for First Time Buyers) 0% 3%
£125,001 - £250,000 2% 5%
£250,001 - £925,000 5% 8%
£925,001 - £1,5m 10% 13%
£1,5m+ 12% 15%

*Information correct as of 6th May 2021

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