Freehold ground rents secured against 16 apartments and 13 parking bays. Income equivalent to £5358 pa (rising).

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Description/Location

The freehold comprises an attractive, Georgian building and a site of 0.25 acres, converted to 16 apartments. The property enjoys a prime, city centre position overlooking Winckley Square Gardens. The apartments and parking bays sold off on leases for 250 years from 01/01/2019. The collective ground rent income is currently £3750 pa and 13 flats pay additional rent for parking bays, equivalent to a collective £1608 pa. Ground rents are reviewed every 10 years in accordance with the RPI. The freeholder manages and insures the building. We refer bidders to the legal pack for a schedule of leases, ground rents and parking bays.

Tenure

Freehold

Office Contact

Please contact Ground Rent Auctions on 020 3987 0139.

Rent

Ground Rents: £5358 pa

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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.