Description
Flat 29 Windsor Court is a rare, off-market 4-bedroom apartment in prime Bayswater, W2, offering 1,500 sq ft of lateral space. It has been vacant for 16 years and is primed for a full refurbishment. With a short lease and significant development potential—including possible conversion to 5 bedrooms (STP)—this Windsor Court development opportunity presents a high-impact value-add in one of Central London’s most desirable locations. Flat 29 Windsor Court, W2 4SN, presents an exceptional off-market development opportunity in the heart of London’s prestigious Bayswater. This substantial 1,500 sq ft, four-bedroom, two-bathroom apartment is set within a classic period mansion block. It offers high ceilings, generous proportions, and a flexible layout. The property has been vacant for 16 years and now requires a comprehensive refurbishment. Therefore, it is a true blank canvas for investors and developers. The apartment’s lateral layout provides ample scope for reconfiguration. This includes the potential to convert to five bedrooms (subject to planning and freeholder consent). The short lease of 47 years is reflected in the competitive guide price. This offers significant value-add potential for buyers willing to undertake a lease extension and full renovation. With a projected GDV of approximately £1.8 million post-refurbishment, this is a rare chance. It is an opportunity to acquire a large, unmodernised flat in a highly sought-after W2 address.Location
Windsor Court is superbly located on Moscow Road, moments from the vibrant amenities of Queensway, Westbourne Grove, and the soon-to-open Whiteleys redevelopment. Residents enjoy easy access to Hyde Park and Kensington Gardens, providing 350 acres of green space just a short stroll away. Transport links are outstanding, with Bayswater, Queensway, and Paddington stations all within walking distance. These offer rapid connections across London and to Heathrow via the Elizabeth Line. The area is renowned for its cosmopolitan community, excellent schools, and a wide array of shops, cafes, and restaurants. This makes it one of Central London’s most desirable residential addresses.Income Potential
Once refurbished, Flat 29 is expected to achieve a GDV of around £1.8 million, in line with recent sales of high-quality, large flats in W2. Refurbished 4–5 bedroom apartments in this postcode typically command market rents of £4,500–£7,000+ per month. This supports gross rental yields in the 3%–4.5% range. The prime location, combined with strong demand from professionals and families, ensures robust long-term rental and capital growth prospects.Development Opportunity
This property offers significant scope for value creation. The generous floor area and flexible layout allow for internal reconfiguration. This includes the potential to convert from four to five bedrooms (subject to planning and freeholder approval). Westminster’s planning policies support the retention and enhancement of family-sized accommodation, provided minimum space and amenity standards are met. The estimated refurbishment budget of £200,000–£400,000 aligns with current benchmarks for full renovations of long-vacant, period flats in prime central London.Legal Considerations
Flat 29 is held on a short lease with 47 years unexpired. Resulting in a significant discount to market value. Statutory lease extension rights are available to qualifying purchasers, with recent reforms allowing immediate application upon completion. The premium for a lease extension in this location is estimated at £100,000–£300,000+, depending on final valuation and ground rent terms. The service charge is £4,000 per annum, and ground rent is £700 per annum. Buyers should factor in the cost and timeline of lease extension when assessing the overall investment case. The property is offered with vacant possession, simplifying the acquisition and development process. Links- London Off-Market Properties
- Prime W2 Investment Listings
- Development Opportunities
- Palace Auctions Buyer Guide
- Refurbishment Case Studies
- Westminster City Council
- TfL Paddington
- Rightmove Bayswater Guide
