Vendor: Executor

Freehold investment: a fine, 3-storey period building comprising 3 flats. 1 x 2 bedroom flat subject to regulated tenancy producing £20,384 pa, 2 flats sold off on long leases.

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Description/Location

Vera Road is situated just north of the Fulham Road with a varied range of local amenities, including cafes and restaurants. Parsons Green tube 0.4 miles. Flat C is a 2 bedroom top floor flat, we are advised the property is dated with potential for a roof terrace or dormer extension. Flat C is subject to a regulated tenancy in favour of a single male agreed 77 years that commenced 23/06/1973, the rent was last registered 04/07/2024 at £1698.67 pcm / £20,384 pa (subject to tenant appeal). The Ground Rent is currently £250 per annum (p.a.) it rises in 2044 to £375 p.a.; £500 p.a in 2069, and in 2094 for the remainer of the term £625.

Auctioneers Note: There will be no internal viewings at this property, we ask bidders to respect the tenants' right to privacy.

Tenure

Freehold

Office Contact

Please contact Network Auctions on 020 7871 0420

Accommodation

Flat A: Basement, 69 sqm (source EPC, rating C). Lease term: 3/12/2001 to 24/6/2168 – Ground Rent Peppercorn. (143 years unexpired) ground rent peppercorn. Flat B: Ground Floor, 59 sqm (source expired EPC, rating C). Lease term: 125 years from 25/12/1994 (96 years unexpired) ground rent £250 pa, it rises in 2044 to £375 p.a.; £500 p.a in 2069, and in 2094 for the remainder of the term £625. Flat C: First Floor, 62 sqm (source EPC, rating E). Regulated tenancy, commenced 23/6/1973.

Rent

Registered Rent: £20,384 pa + Ground Rent: £250 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.