Sold for £52,500

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A large portfolio of freehold ground rents secured against 200+ leasehold houses. The portfolio includes several parcels of land subject to leases and others where the leasehold position is unclear.

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Description/Location

We refer bidders to the legal pack for title information, a schedule of ground rents and lease terms (some estimated). In brief, lease terms are for 999 years with start dates ranging from 1859 - 1962. We are advised the seller has collected some ground rent income and notice fees for Notice of Transfers and Charges. The legal pack contains a schedule of leases with ground rent arrears. The portfolio represents an attractive management opportunity to generate ground rent income as well as deed of variation premiums for property extensions / improvements and notice fees relating to sales / remortgages. In addition, the title includes some freehold parcels of land such as an area of car park (0.16 acres) at Britannia Bridge on Warrington Road where there is no registered leasehold title. The portfolio is held in one freehold title, it may include land that is publicly maintained and buyers should make their own inquiries in this regard.

Tenure

Freehold subject to the leases stated in the legal pack.

Office Contact

Please contact Network Auctions on 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.