Garage for sale
Key information
Property description & features
- Tenure: Leasehold (67 years remaining)
*For Sale By Online PublicAuction 11th December 2024 09:00 AM. To inspect the legal documents for this property go to our website to download the legal pack*
Four Single Storey Lock Up Garages Let on Individual Tenancies Producing £8,856 Per Annum (Reflecting a Gross Initial Yield of 14.76%)
Tenure
Leasehold. Each garage is held on a 120 year lease from 25th December 1971 (thus approximately 67 years unexpired).
Location
The garages are situated on a residential road close to local shops and amenities. The open spaces of Gladstone Park are within easy reach. Transport links are provided by Neasden underground station (Jubilee line) and Wembley Stadium rail station.
Description
The property comprises four single storey lock up garages.
Tenancy
Garage 2 is subject to a tenancy commencing 29th November 2023 at a rent of £198 per calendar month.
Garage 6 is subject to a tenancy for a term of 1 year commencing 28th October 2024 at a rent of £180 per calendar month.
Garage 7 is subject to a tenancy for a term of 1 year commencing 23rd November 2024 at a rent of £180 per calendar month.
Garage 8 is subject to a tenancy for a term of 1 year commencing 30th September 2024 at a rent of £180 per calendar month.
Note
Further Information
When purchasing a property that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor.
Viewing Appointments to be Confirmed
Places of interest
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Property reference 272747. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Auction House London - Hampstead.
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Broadband availability and predicted speed: obtained from Ofcom on July 19, 2023
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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