Lot 11

FREEHOLD GROUND RENTS

Ground Rents, Kingsnorth Court, Shorncliffe Road, Folkestone, Kent, CT20 2NF
Ground Rents, Kingsnorth Court, Shorncliffe Road, Folkestone, Kent, CT20 2NF
Sold £58,000

Currently let at £563 per annum

Kingsnorth Court comprises two blocks of six flats situated in good size grounds and all sold on 999 year leases from 25th March 1965. Eight flats have a current ground rental of £65 per annum; three have ground rents of £11 per annum and one has a ground rent of £10 per annum. Garage 8 has been sold on a 999 year lease from 25th March 1965 at a peppercorn ground rental.

We understand the freeholder is responsible for the maintenance, management and insurance of the buildings, recovering the costs from the leaseholders by way of a service charge.

It is considered there may future potential for development to the rear of the blocks, subject to all necessary consents being obtainable.

Local Planning Authority

Folkestone & Hythe District Council. Tel: 01303 853278. Website: folkestone-hythe.gov.uk.

Auctioneer's Note

Section 5(b) Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have 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 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/