Freehold ground rents secured against a pair of freehold buildings comprising 9 apartments. Producing ground rents of £2250 pa with RPI reviews.
The apartments are sold off on leases for 999 years from 01/01/2016 producing ground rent of £250 pa each. The next review is 2030 in line with RPI. The freeholder manages and insures. We refer bidders to the copy Section 5b Notices within the legal pack, the lessees have not taken up their rights.
Please contact Ground Rent Auctions on 020 3987 0139.
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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 inc 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.