Sold for £10,500

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Freehold site of approx. 0.84 acres with development potential, subject to planning. The sale includes 104 garages held on leases producing ground rent income.

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Description/Location

Located at Ben Jonson Close, Beaumont Close and Shakespeare Close, the site of 0.84 acres approx. includes 104 leasehold garages producing a ground rent of £2.50 per garage (£260 per annum). Potential for the erection of further garages, workshops, parking bays etc. subject to planning. We are advised the garages are held on leases for 199 years from 1964, we refer bidders to the legal pack and title documents for confirmation.

Tenure

Freehold

Local Authority

Torbay Council01803 201201www.torbay.gov.uk

Viewing

Please contact Charles Darrow Network Auctions on 01626 330022

Rent

Current rent £260 per annum

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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.