A Freehold Ground Rent Investment comprising of 5 flats producing £560 pa. 3 with valuable reversions in less than 65 years, 1 in less than 57 years.

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Description/Location

Flat 1 (Ground Floor) 99 years from 25/12/1988. GR £140 pa rising to £210 pa. Understood to be a 1 bedroom flat. Flat 2 (Ground Floor) 99 years from 25/12/1988. GR £140 pa rising to £210 pa. Understood to be a 1 bedroom flat. Flat 3 (First Floor) 189 years from 25/12/1988 Peppercorn Ground Rent. Understood to be a 1 bedroom flat. Flat 4 (First and Second Floors) 99 years from 25/12/1988. GR £140 pa rising to £210 pa. Understood to be a 2 bedroom flat. Flat 5 (Second Floor Flat) 99 years from 25/12/1980 (less than 57 years remaining). GR £140 pa rising to £210 pa. Understood to be a 1 bedroom flat. The Ground Rent patterns commenced at £70 per annum (pa) rising after 33 years to £140 pa and for the final 33 years £210 pa. Therefore currently producing £560 per annum. The Lessees manage and insure the building through their appointed agent. We refer bidders to the legal pack for copies of the S5B Notices, the lessees have taken up their rights.

Office Contact

Please contact Ground Rent Auctions on 020 3987 0139.

Rent

Ground Rent: £560 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.