Sold prior to auction, for an undisclosed amount

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Freehold ground rents secured against a detached building comprising 5 flats (1 x 2 bed, 4 x 1 bed) producing £1800 pa (rising)

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Description/Location

The flats are all held on 126 year leases from 01/01/2020, ground rents are indexed to RPI with first review at 31/12/2029. Landlord manages and insures.

Tenure

Freehold

Local Authority

Royal Borough of Kingston Upon Thames

Office Contact

Network Auctions - 020 7871 0420

Accommodation

Flat A: 2 bedroom ground floor with garden. Ground Rent £500 pa. Flat B: 1 bedroom ground floor with garden. Ground rent £300 pa. Flat 1: 1 bedroom first floor. Ground rent £300 pa. Flat 2: 1 bedroom duplex with roof terrace. Ground Rent £400 pa. Flat 3: 1 bedroom top floor. Ground rent £300 pa.

Rent

Ground Rent: £1800 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.