Lot 24

FREEHOLD GROUND RENT INVESTMENT

Ground Rents, 43 & 43A Tudor Drive, Romford, RM2 5LJ
Ground Rents, 43 & 43A Tudor Drive, Romford, RM2 5LJ
Guide Price £8,000+ * + Fees

Currently let at £60 per annum

Applicants may view the lot externally only

This semi-detached building is arranged as two self-contained flats, both sold on long leases. Number 43 Tudor Drive (ground floor) and garden ground has the remainder of a 99-year lease, from 25th December 1990, at a current ground rent of £50 per annum. Number 43A Tudor Drive (first floor) and garden ground has the remainder of a 189-year lease, from 24th June 1968, at a current ground rent of £10 per annum.

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.

Ground Rents, 43 & 43A Tudor Drive, Romford
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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/