Lot 74 Head Leasehold Investment - Block Of Five Flats, Three-Bedroom Cottage And Three GaragesAuction Date:
24th July 2024
17 Julian Road, Cheriton, Folkestone, Kent, CT19 5HW
Currently let at £28,350 per annum
A head leasehold investment situated in Julian Road on the corner with Wilton Road. The Lot comprises a freehold block of five flats (two let under the terms of Assured Shorthold Tenancies and three flats sold on long leases); a three bedroom cottage and three garages.
Main Building
Flat 1
Tenure
Sold on a long lease from and including 21 December 2020 expiring on 17 March 2177 at a current ground rental of £150 per annum.
Flat 2
Tenure
Sold on a long lease of 99 years (less 7 days) from 25 March 1988 at a current ground rental of £150 per annum.
First Floor
Flat 3
Living room, kitchen, two bedrooms and shower room/W.C. Gas heating system via radiators. The majority of windows are double-glazed.
Tenancy
Let on an Assured Shorthold Tenancy at a current rental of £700 per calendar month.
Council Tax Band B
Flat 4
Tenure
Sold on a long lease from 7 July 2010 expiring 17 March 2177 at a current ground rental of £150 per annum.
Second Floor
Flat 5
Kitchen, living room, two bedrooms and bathroom/W.C. The majority of windows are double-glazed.
Tenancy
Let on an Assured Shorthold Tenancy at a current rental of £600 per calendar month.
Council Tax Band B
The Cottage
The majority of windows are double-glazed and there is a gas heating system via radiators.
Ground Floor
Entrance hall, kitchen, open plan living room/dining room with French doors to garden.
First Floor
Landing, three bedrooms and bathroom/W.C.
Outside
Integral garage and rear garden.
Tenancy
Let on an Assured Shorthold Tenancy at a current rental of £875 per calendar month.
Council Tax Band D
Garages
Tenancy
Three garages each let at £50 per calendar month.
Tenure
Head Leasehold interest of the remainder of a 99-year lease from 25th March 1988. Further information will be available within the legal documentation which will be available to download from the Clive Emson website.
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
