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Guide price
£15,000

1 bedroom flat for sale

Southend-On-Sea SS2
Auction
Sold STC
Flat
1 bed
Added > 14 days

Key information

TenureFreehold
Council taxBand A
BroadbandUltra-fast 1000Mbps *
Mobile signal
EEO2ThreeVodafone

Features and description

  • Tenure: Freehold
  • Freehold Residential Reversionary Investment
  • Secured on two 1 Bed Self Contained Flats
  • Each Lease has only 62 Years Remaining
  • Ground Rent Income of £200 PA rising to £300 PA in 2033
  • Guide price: £15,000 to £20,000
  • For sale by livestream auction
  • Unless withdrawn prior
  • 11:00am, Wednesday 11th December 2024

SOLD AT AUCTION FOR £20,000

Freehold Ground Rent Investment currently producing £200 per annum

This lot comprises the ground rent investment secured on two self contained flats which currently produce £100 pa on each flat rising to £150 pa on each flat in 2033.

The leaseholds of the two flats have been sold off with 63 years of the 99 year lease remaining and it is is expected that the current leaseholders will wish to extend their respected leases in the near future.

The property consist of two x one bedrooms flats, one on the ground floor and one on the first floor, and is situated in a popular residential location of Southchurch.

Leasehold Information Term: 99 years from 25 August 1988 (63 years remaining)
Annual ground rent amount: £100 per flat
Ground rent review period: 25 March 2033
Viewings PLEASE NOTE NO VIEWINGS ARE BEING OFFERED FOR THIS PROPERTY

Tenure: Freehold

EPC Rating: C

Administration Fee: 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Buyer's Premium Fee: £600 inc VAT payable on exchange of contracts.

Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

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About this agent

Auction House - East Anglia
Auction House - East Anglia
The Barn, Newmarket Road Cringleford Norwich, Norfolk NR4 6UE
01603 398879
Full profileProperty listings
The Auction House team have been holding auctions in East Anglia for over fifteen years. We originally operated under the Tops name, then as Tops Auction House. We have been the Eastern Region’s leading Land and Property auctioneers since 2002 and are highly respected in the area. Sale numbers have grown over the period to over 400 properties per year with success rates averaging out at well over 80% since 2004. Auction House East Anglia draws entries for its auction room in Norwich from a wide geographical area and is supported by a number of market and coastal town Introducer Agents who provide entries and assist with viewings. Auction House East Anglia operates from offices in Norwich (servicing Norfolk), King's Lynn (servicing NW Norfolk and parts of Cambridgeshire), Peterborough (servicing Cambridgeshire) and Ipswich (servicing Suffolk and North Essex) and sells a wide variety of property types covering the residential, land, commercial, investment and agricultural sectors. Many are vacant for improvement, others tenanted or for development. We are expert advisers and guide vendors as to the most appropriate method of sale which could be by Formal or Informal Tender, Invited Offer, Private Treaty or Auction. Auction House East Anglia was the model Licensee and provided the template for others to follow. It continues to be one of the most successful operators in the UK and is the ‘first choice’ regional auctioneer across the counties of Norfolk, Suffolk, Cambridgeshire and North Essex.
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