Lot 92 Freehold Ground RentsAuction Date:
1st November 2024
Ground Rents, Berkeley Mount, Old Road, Chatham, Kent, ME4 6BW
Currently let at £3,264.82 per annum
A development of 18 flats (in two blocks) situated conveniently for the commuter railway station. Each flat has been sold on a long leasehold interest. The lease terms are as shown in the Table below.
The leases for Flats 7 & 17 (yellow in table) and 3, 5, 6, 8, 9 and 11 (green in table) and Flat 2 (pink in table) contain a rent review provision for the ground rental to be increased on every sale of the flat (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 1986.
The lease for Flat 16 provides for the Ground Rent to be reviewed every ten years, index linked to RPI. Copies of the leases will be available to download from the Clive Emson website.
Auctioneer's Note 1
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.
Auctioneer's Note 2
One of leaseholders has enquired about extending their Lease. The Sellers will leave this to the Purchaser to peruse following completion.
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
