Lot 59

FREEHOLD GROUND RENTS

Ground Rents, Wood Bury, 2 The Vale, Broadstairs, Kent, CT10 1RB
Ground Rents, Wood Bury, 2 The Vale, Broadstairs, Kent, CT10 1RB
Sold £28,000

Currently let at £1,575 per annum

A freehold property situated on the corner of Ramsgate Road and The Vale, divided into 11 flats (10 leases). Flat 2 is we understand currently arranged as two flats held under one lease.

Each of the 10 leases are for a term of 125 years - six from 1st January 1990; three from 12th November 2019 and one from 31st January 2020 at various ground rental figures, some rising throughout their terms.

Auctioneer's Note

Section 5B 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/