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Lot: 9 - FREEHOLD GROUND RENT & UNIT TRANSFER INVESTMENT - General view of the freehold developmentLot: 9 - FREEHOLD GROUND RENT & UNIT TRANSFER INVESTMENT - All 51 bungalows are sold on long leasesLot: 9 - FREEHOLD GROUND RENT & UNIT TRANSFER INVESTMENT - General view of the freehold developmentLot: 9 - FREEHOLD GROUND RENT & UNIT TRANSFER INVESTMENT - General view of the freehold developmentLot: 9 - FREEHOLD GROUND RENT & UNIT TRANSFER INVESTMENT - View of the entrance to the development
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Lot 9 Freehold Ground Rent & Unit Transfer InvestmentAuction Date:
6th February 2025

Ground Rents, 1-51 Banham Drive, Sudbury, Suffolk, CO10 2GN

£98,000

Currently let at £1,828 per annum

Category Ground Rents
Tenure Freehold

This interesting investment lot consists of the Freehold of an age restricted (over 55s) development complex comprising of 51 bungalows in the Suffolk town of Sudbury.

In total there is a current ground rent payable of £1,828 per annum which is subject to a review every 21 years. The next review is scheduled for September 2034. The leases were originally granted for the term of 125 years from 1992. The Freeholder has the obligation to insure and maintain the development, the cost of this is recovered by way of a service charge and insurance premiums payable by the Leaseholders.

The Freeholder also has the right to charge a transfer fee of 1% for any assignment transfer, underletting or parting of possession. Further information will be available within the legal pack which can be downloaded from the Clive Emson website.

Tenure

Each of the 51 bungalows were granted a 125 year leases from 1st September 1992.

Auctioneer’s Note

We have been advised by the sellers that their solicitors have served the Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) and the leaseholders have not reserved their rights under the legislation.

Auctioneers Note 2

We have been advised by the seller that the land is offered for sale subject to any legal interest or right of way that may exist, further information can be downloaded from
the Clive Emson website.

Viewing

External viewing only. Applicants may view directly on site during daylight hours taking care to avoid trespassing on route.



Ground Rents, 1-51 Banham Drive, Sudbury, Suffolk


There is an addendum available to be read
in conjunction with the legal documentation.

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