Lot 83

FREEHOLD GROUND RENTS

Ground Rents, 14-15 Marine Parade, Folkestone, Kent, CT20 1PX
Ground Rents, 14-15 Marine Parade, Folkestone, Kent, CT20 1PX
Guide Price £40,000+ * + Fees

Currently let at £2,650 per annum

Applicants may view the lot externally only

An attractive freehold block divided to provide 14 flats, all sold on 125 year leases from 1st January. Seven from 2018, one from 2019, three from 2020 and three from 2021.

There are five with current ground rents fixed at £250 per annum throughout the term, one fixed at £200 per annum throughout the term, four at a current ground rent of £200 per annum, rising and four at a current ground rent of £100 per annum, rising.

The Freeholder arranges insurance and maintenance of the exterior and common areas recouping the costs from the leaseholders by way of a service charge.

Auctioneer's Note

Section 5(B) Notices under the Landlord & Tenant Act 1987 have been served and the leaseholders have reserved their rights under this legislation.

Ground Rents, 14-15 Marine Parade, Folkestone, Kent
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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/