Freehold ground rents of £2400 pa (rising) secured against a contemporary block of 8 apartments. The apartments are held on 999 year leases with RPI ground rent reviews every 25 years.

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Description/Location

Each flat produces a ground rent of £300 pa with RPI reviews every 25th anniversary. The freeholder manages and insures the building. We refer bidders to the legal pack for copies of the Section 5a Notices served upon the lessees. There is potential to construct an additional floor subject to planning, the indicative drawings and floor plan in the auction catalogue shows a third floor penthouse scheme. No planning has been sought for the upper floors, bidders should make their own enquiries regarding the potential for further development.

Tenure

Freehold

Office Contact

Please contact Ground Rent Auctions on 020 3987 0139.

Rent

Ground Rent: £2400 pa rising

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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.