Lot 92 Freehold Ground Rent Investment Of Eight FlatsAuction Date:
21st September 2022
Ground Rents, Guildhalls, 43 Ashburnham Road, Bedford, MK40 1DX
Currently let at £1,000 per annum
This converted period property comprises eight flats (with associated car parking spaces) situated within reach of Bedford town centre and opposite Bedford Railway Station (EMR, Thameslink & West Midlands services).
Flats 1-8 and parking space are each sold on a 125-year lease from 2007. Each flat pays a current ground rental of £125 per annum, doubling every 25 years in 2032 and thereafter.
Flats 7 and 8 are subject to Deeds of Variation dated 30th June 2015. Further details can be found under the Charges Register on the Land Registry title, which will be contained in the legal pack, available to download from the Clive Emson website.
We understand the freeholder is responsible for insuring the building, repairing and maintaining the structure and exterior decorative finishes of the building and common areas, keeping the internal common parts clean and tidy, adequately lit and decorated and carpeted. There is also a provision to allow the Landlord to set up a sinking fund.
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.
There is an addendum available to be read
in conjunction with the legal documentation.
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 Buyers Fees
