Lot 78
    103 High Street
    Herne Bay, Kent, CT6 5LA
    Withdrawn Prior.
     
    Number 1
    A Freehold Ground Rent Investment Secured Upon An End of Terrace Building Arranged to Provide Three Self-Contained Flats All Sold Off on Long Leases Producing £350 Per Annum (Rising to £950)

    Description

    The property comprises an end of terrace building arranged to comprise three self-contained flats over lower ground, 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 Memorial Park are within easy reach. Transport links are provided by Herne Bay rail station.

    Exterior

    The property benefits from a rear garden.

    Note

    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.

    Accommodation & Tenancy Schedule

    Floor Accommodation Tenancy Current
    Annual Rent
    Lower Ground Not Inspected The property is held on a 134 year lease from 1st January 2007 (thus approximately 117 years unexpired). £150
    Ground Not Inspected The property is held on a 125 year lease from 4th May 2018 (thus approximately 119 years unexpired). £150 (rising by £150 every 25 years)
    First Not Inspected The property is held on a 125 year lease from 1st January 2007 (thus approximately 108 years unexpired). £50
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    Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

    Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

    Guides are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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