Freehold ground rents secured against 4 x 1 bedroom flats, including 3 with valuable lease reversions in 49 years.

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Description/Location

Flats 1, 3 & 4 have lease terms of 99 years from 01/07/1975, ground rents are £50 pa. Flat 2 has a lease term of 999 years from 01/07/1975, ground rent is one peppercorn.

Auctioneers Note: External viewings only. The flats are sold off on long leases. The sale comprises the freehold title, ground rent income and the potential for lease extension premiums.

Tenure

Freehold

Office Contact

Network Auctions - 020 7871 0420

Accommodation

Flat 1: Ground Floor. 99 years from 01/07/1975. Ground rent £50 pa.
Flat 2: Ground Floor plus cellar. 999 years from 01/07/1995. Peppercorn ground rent.
Flat 3: First & Second Floor duplex. 99 years from 01/07/1975. Ground rent £50 pa.
Flat 4: First Floor: 99 years from 01/07/1975. Ground rent £50 pa.

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Legal documents

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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 £2,100 (inc. VAT) unless otherwise stated in the addendum (£600 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.