Lot 144

FREEHOLD GROUND RENTS

Ground Rents, 9 Farnham Close, Bracknell, Berkshire, RG12 9AX
Ground Rents, 9 Farnham Close, Bracknell, Berkshire, RG12 9AX
Sold £6,500

Currently let at £377 per annum with five-yearly RPI increases

A pair of purpose-built flats, each sold on a ground lease for a term of 125 years from 1st January 2018, with the ground floor flat (9) at a current ground rental of £148 per annum, and the upper flat (9A) occupying the first and second floors at a current ground rental of £229 per annum. Both leases allow for increases in the ground rent by RPI every five years of the term.

The leases provide for the freeholder to arrange for the insurance, maintenance and management of the building, recovering the costs 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 this 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 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 cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

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 cliveemson.co.uk/buyers-fees/