Lot 39

FREEHOLD GROUND RENTS

Ground Rents, Flats 1-7, Hygrove Court, 32A Camilla Road, Bermondsey, London, SE16 3NL
Ground Rents, Flats 1-7, Hygrove Court, 32A Camilla Road, Bermondsey, London, SE16 3NL
Sold £40,000

Currently let at £3,500 per annum

A modern purpose built block constructed circa 2013 situated in the popular South London area of Bermondsey, close to local shopping and transportation links.

The property is divided into seven apartments each sold on a 125 year leases. Flat 1 from 30th September 2013, Flat 2 from 4th December 2013, Flat 3 from 17th September 2013, Flat 4 from 4th December 2013, Flat 5 from 23 September 2013, Flat 6 from 1st November 2013 and Flat 7 from 21st June 2013. Each flat has a current round rent of £250 per annum.

The lease provide for the freeholder to insure, maintain and manage the block recovering the cost from the leaseholders by way of a service charge.

Tenancy

In addition to the ground rent there is further income from a Licence in place providing a fire escape to Iceland Foods. The Licence commenced 29th June 2015 to 29th June 2030. The current rent payable is £1,750 per annum with a review scheduled for 29th June 2020.

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/