1 bedroom flat for sale
Key information
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- Unless withdrawn prior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.