Lot 41 - FREEHOLD GROUND RENTS - Clive Emson Auctioneers

Sold £10,900

On Instructions of the Executors

Currently let at £450 per annum, rising

A freehold property divided into four flats, each sold on long leases for a term of 159 years, from 22nd November 1985.

There are three flats with a current ground rent of £100 per annum, until 1st January 2024, then rising to £200 each until 1st January 2054, £400 per annum each until 1st January 2084 and then £800 each per annum thereafter for the remainder of the term.

The first floor flat has a current ground rent of £150 per annum until 23rd June 2041, then rising to £300 per annum until 2066, then rising to £600 per annum until 2091 and then £1,200 per annum thereafter for the remainder of the term.

Auctioneer's Note

Section 5B 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/