Lot 25 Freehold Ground RentsAuction Date:
1st November 2024
Ground Rents, Flats 1-11, Mistral Court, Chingford Avenue, Chingford, London, E4 6RQ
Currently let at £326 per annum
A detached purpose-built block comprising eleven flats and situated in an established residential area between Old Church Road and Heathcote Grove. Ten flats are sold on a 999-year leases from 24th June 1964 each at a ground rental of £12.60 per annum. Flat 3 is sold on a 99-year lease from 24th June 2007 at a ground rental of £200 per annum.
We understand the leases provide for the freeholder to insure, maintain and manage the building, recovering the costs from the leaseholders by way of a service charge.
Auctioneers Note 1
There are no rent review patterns contained in the leases. The roof space is subject to a 999-year lease at a peppercorn ground rental.
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 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
