Preliminary Announcement - to be sold by auction 30/07/2020

A recently constructed freehold block of 12 x 1 bedroom apartments comprising a secure gated development with parking, let on AST's. Planning consent for a third floor arranged as 1 x 2 and 1 x 1 bedroom penthouse apartments.

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Description/Location

London Heights was constructed in 2019 and benefits from a 10 year ICW build warranty. The development is ideally situated close to the town centre amenities and Camberley Station, 11 of the 12 apartments are let producing £110,220 increasing to £120,360 at full occupancy. We estimate the rental vale of the penthouses at £11,400 and £15,600 equivalent to a combined rent roll of £147,360 pa. Planning was granted on 19/11/2018 by Surrey Heath Council Ref: 18/0920 for construction of a new, third floor with 2 penthouses and balconies. The apartments feature a contemporary specification to include matt grey kitchen units with quartz work surfaces and integrated appliances, white sanitary ware, rainfall showers, underfloor heating and herringbone floors.

6 WEEK COMPLETION

Tenure

Freehold

Viewing

Please contact Elliott Network Auctions on 020 7871 0420

Accommodation

A schedule of tenancies and EPC's is included in the legal pack.

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.