Sold for £2,300

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Freehold ground rents secured on a 1 x 2 bedroom and 1 x 1 bedroom flats each producing a ground rent of £100 pa rising.

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Description/Location

Each lease has a term of 199 years from 03/08/2021, the rent increased from £50 pa to £100 pa in 2016 (33 years) and will increase to £150 pa in 2049 for the remainder of the term.

Tenure

Freehold

Local Authority

Southend on Sea Borough Council 01702 215000

Office Contact

Network Auctions - 020 7871 0420

Rent

Ground Rent: £200 pa

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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.