Lot 103

FREEHOLD GROUND RENT INVESTMENT

Ground Rents, 65 & 67 Wellesley Road, Walthamstow, London, E17 8QX
Ground Rents, 65 & 67 Wellesley Road, Walthamstow, London, E17 8QX
Sold Prior to Leaseholders

Currently let at £225 per annum

A freehold terraced house comprising two flats producing a total ground rental income of £225 per annum, rising throughout the term.

The property is located in a popular, residential area of Walthamstow, East London, close to the town centre with its shopping facilities and public transport.

Flat 65 is sold on a ground lease for a term of 125 years from 20th July 2004, at a current ground rental of £150 per annum, payable for the first 33 years of the term, rising to £300 for a further 33 years and then £600 for the remainder. Flat 67 is sold on a 125-year lease, from 18th July 1997, at a current ground rental of £75 per annum, increasing by £50 per annum every 25 years.

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.

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/