Lot 112 Freehold Ground RentsAuction Date:
1st November 2023
Ground Rents, 61/63 High Street., and 1A, 1B & 1C Middletune House, Milton Regis, Sittingbourne, Kent, ME10 2AD
Currently let at £975.50 per annum
A large converted property providing five self-contained flats each sold on a ground lease for various terms.
The lease for each flat (with the exception of 63 High Street) contains a rent review provision for the ground rental to be increased on every sale of the flats (assignment or transfer) by an amount which is 0.5 of the difference between the price the flat is sold for and the original sale price in 1981. Copies of the leases will be available to download from the Clive Emson website.
61 High Street
Tenure
Sold on a 125-year lease from 17th October 2017 at a ground rental of £79 per annum.
63 High Street
Tenure
Sold on a 145-year lease from 29th March 2023 at a peppercorn ground rental.
1A Middletune House
Tenure
Sold on a 99-year lease from January 1981 at a ground rental of £38.75 per annum.
1B Middletune House
Tenure
Sold on a 125-year lease from 29th September 2017 at a ground rental of £611.50 per annum.
1C Middletune House
Tenure
Sold on a 125-year ground lease from 10th December 2018 at a current ground rental of £246.25 per annum.
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
