Sold after auction for an undisclosed amount

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Freehold ground rents secured against 3 flats producing ground rent of £725 pa, 1 flat with a valuable reversion in 51 years.

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Description/Location

Flat 1 - GF/LGF, 125 years from 01/09/2020 (122 years unexpired) Ground Rent £25 pa review 2050 Flat 2 - FF, 99 years from 25/12/1975 (51 years unexpired) Ground Rent £600 pa review 2041 Flat 3 - GF/FF, 99 years from 25/12/2014 (90 years unexpired) Ground Rent £100 pa review 2047 On Flats 2 & 3 the ground rent is reviewed to: “The annual rent in respect of the second and third thirty three years of the term shall be one- tenth of the annual rack rent of the demised premises between a willing lessor and a willing lessee on the same terms as this lease (save as to rent)". We refer bidders to the S5B Notices served on the lessees, copies are available in the legal pack. The lessees have not taken up their rights.

Joint Agent

Please contact Ground Rent Auctions on 020 3987 0139.

Local Authority

Bedford Borough Council 01234 267422

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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.