Sold after auction for an undisclosed amount

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Freehold ground rents secured against 4 x 2 bedroom flats producing £100 pa.

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Description/Location

Lease lengths - 199 years from 1996 (1) and 199 years from 2004 (3). Ground rent - £25 per flat fixed. Landlord insures / manages - yes. Current BI Premium £1000.15 pa. Some arrears, see legal pack for schedule.

Local Authority

Isle of Wight Council

Office Contact

Network Auctions - 020 7871 0420

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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.