Sold for £50,000

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Freehold ground rents secured against 2 x 2 bedroom flats producing £100 pa (rising)

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Description/Location

Ground Floor: 99 years from 06/03/1978 (56 years unexpired). £25 pa rising to £75. Upper Floor: 99 years from 14/12/1979 (57 years unexpired). £25 pa rising to £75. Ground Rents: £50 per flat, total £100 pa. Landlord manages / insures, current BI premium £698.88 pa.

Tenure

Freehold

Local Authority

Royal Borough of Greenwich

Office Contact

Network Auctions - 020 7871 0420

Rent

Ground Rent: £100 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.