Lot 147 Freehold Ground RentsAuction Date:
1st November 2024
Ground Rents, Flats 21-24, Markfield Gardens, Chingford, London, E4 7NN
Currently let at £630 per annum
A detached purpose-built block comprising four flats and situated in a residential cul-de-sac off Drysdale Road, close to the junction of Sewardstone Road and Lea Valley Road.
Flat 21
Sold on a 189-year lease from 1st July 2005 at a peppercorn ground rent.
Flat 22
Sold on a 114-year lease from 1st July 2005 at a current ground rental of £250 per annum (due to increase in 2025).
Flat 23
Sold on a 111-year lease from 1st July 2005 at a current ground rental of £380.72 per annum (due to increase in 2035).
Flat 24
Sold on a 189-year lease from 1st July 2005 at a peppercorn ground rent.
We understand the leases provide for the freeholder to insure the building, re-charging back to the leaseholders. However, there is no service charge.
Auctioneer's Note 1
Flats 22 and 23 are on compounded RPI rent reviews.
Auctioneer’s Note 2
Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under this 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
