Withdrawn
- Property For Sale
- Tenure: Freehold
Call the team on 020 7625 9007 for more information
A Freehold Ground Rent Investment Secured Upon a Mid Terrace Building Arranged to Provide Two Self-Contained Flats Both Sold-Off on Long Leases Producing £500 Per Annum (Doubling Every 25 Years)
The property comprises a mid terrace house arranged to provide two self-contained flats over ground and first floors.
Tenure
Freehold
Location
The property is situated on a residential road close to local shops and amenities. The open spaces of Tooting Gardens are within easy reach. Transport links are provided by Tooting Broadway underground station (Northern line) and Haydons Road rail station.
Accommodation
Ground Floor Flat Reception Room Kitchen Two Bedrooms Bathroom First Floor Flat Reception Room Kitchen Two Bedrooms Bathroom
Exterior
The property benefits from a rear garden.
Tenancy
Each flat is held on a 125 year lease from 11th March 2015 (thus approximately 116 years unexpired) at a ground rent of £250 per annum, rising to £500 in 2040, £1,000 in 2065, £2,000 in 2090 and £4,000 in 2115.
The property has not been inspected by Auction House London. All information has been supplied by the vendor. S5(b) Notices have been served under the Landlord & Tenant Act 1987 and the leaseholders have not reserved their rights.
Further Information
A Ground Rent is a nominal annual rent paid by the leaseholder to the freeholder. When you purchase a ground rent investment you are purchasing the rights to the ground rent income, not the flats themselves. When the lease terms become low, the freeholder can charge each lessee a premium for extending their lease. Further income can be derived when the freeholder has the right to manage and insure the building.
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
