Sold for £20,000

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West End head lease investment secured against 3 apartments producing a combined ground rent income of £900 pa, development potential.

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Description/Location

The property is situated on Panton Street off Haymarket in the West End theatre district. The flats are held on leases for 125 years from 01/01/2001 at a ground rent of £300 pa each. Potential to add a floor and create another apartment subject to planning.

Tenure

Head Lease: 999 years

Local Authority

Westminster City Council

Office Contact

Network Auctions - 020 7871 0420

Rent

Ground Rent: £900 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.