For Sale by Public Auction at The Clive Emson Conference Centre
Auction Date : 29 October 2019
Lot Number : 20
Freehold Ground Rents
Current Rental : £1,350 Per Annum
*Guide Price : £30,000 - £35,000 + Fees
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An attractive detached property converted into seven self-contained flats. Flats A, B, C and D have each been sold on a lease for a term of 125 years, from 1st January 2006/7, at a current ground rental of £150 per annum doubling each 25 year period. Flats E, F and G have each been sold on a lease for a term of 125 years, from 1st January 2018, at a ground rental of £250 per annum.
The leases provide for the freeholder to arrange the maintenance, insurance, and management of the property recovering the cost from the leaseholders by way of a service charge.
Auctioneer’s Note Section 5(B) Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation. Important: All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.
Price Information *Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at , or contact us on , in order to stay fully informed with the up-to-date information.
*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to
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Guide Price: The “Guide Price” an indication of the seller’s minimum acceptable price at auction. The guide price can be shown in the form of a minimum and maximum price range, or as a single price figure. This is subject to change up to and including the day of the auction and will not necessarily be the final selling price at auction.
Reserve Price: The “Reserve Price” is the seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. This is normally set within the guide price range or within 10% of a single guide price. The reserve price is not disclosed and is subject to change up to and including the day of the auction.