Lot 47 Freehold Ground RentsAuction Date:
11th December 2024
Ground Rents, 68 Albion Road, Birchington, Kent, CT7 9DS
Currently let at £705.60 per annum
A freehold block of five flats each sold on a long lease. We understand the freeholder insures, maintains and manages the property recovering the costs from the leaseholders by way of a service charge.
Flat 1 has been sold on a 130-year lease from 29th September 1982 at an initial ground rental of £120 per annum which increases by 20% every five years with the current ground rental being £172.80 per annum.
Flat 2 is sold on a term beginning on 24 June 1985 and ending on and including 23 December 2209 at a current ground rental of £120 per annum which will increase to £220 in June 2051.
Flat 3 has been sold on a term from 29 September 1982 to and including 28 September 2142 at a current ground rental of £120 per annum increasing by 20% every 10 years.
Flat 4 has been sold on a 127-year lease from 24th June 1985 with an initial ground rental of £120 per annum increasing by 20% every five years, the current ground rental of £172.80.
Flat 5 sold on a 99-year lease from September 2012 at a ground rental of £120 per annum which doubles
every 25 years.
Auctioneer's Note
Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have 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
