Sold for £17,500

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Freehold ground rents secured against 6 apartments producing £1100 pa (rising)

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Description/Location

Lease Terms - 4 x 125 years from 25/03/2020 and 2 x 189 years from 25/12/1985. Ground rents - 4 x £250 pa doubling every 25 years, 1 x £100 pa doubling every 25 years from 2044 and 1 x peppercorn. Landlord insures. Current premium £1526.21 pa. Landlord retains managing agent with fees paid by lessees via service charge. Arrears - None

The 2 garages situated at the north west corner of the site have been sold off on freehold titles and do not form part of the sale.

Tenure

Freehold

Local Authority

London Borough of Croydon

Office Contact

Please contact Elliott Network Auctions on 01923 240420

Rent

Ground Rent: £1100 pa (rising)

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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.