Lot 34
    Block of Apartments
    188-196 St Albans Road
    Watford, Hertfordshire, WD24 4AS
    Unsold. Contact the auctioneer.
     
    Number 1
    A Freehold Investment Opportunity Comprising Seven Self Contained Flats (5 x Two Bedroom and 2 x One Bedroom) Fully Let on a Guarenteed Rent Agreement Producing £79,200 Per Annum. The Remaining Commercial and Residential Units have been Sold Off on Long Leases.

    Description

    The property comprises a substantial corner building arranged to provide seven self-contained flats arranged over the first, second and third floors. Additionally the lot includes two ground floor shops, first floor offices and five second floor flats all sold off on long leases at peppercorn ground rents.

    Tenure

    Freehold

    Location

    The property is situated on a mixed use road close to local shops and amenities. The open spaces of Knutsford Playing Fields are within easy reach. Transport links are provided by Watford underground station (Metropolitan line) and Watford Junction rail and overground stations.

    Exterior

    The property has an underground car park and a forecourt to the rear (sold off).

    Note

    We understand from the vendor that Section 20 notices have been served on the leaseholders for repairs on the building. Buyers should refer to the legal pack for more information.

    Further Information

    The seven flats that are rented out on a guaranteed rent scheme are held under seven separate leasehold titles. The rest of building is under one freehold title.

    Accommodation & Tenancy Schedule

    Property Floor Accommodation Tenancy Details Current Rent
    Shop Ground Shop Area 999 years from 4th March 1999 Peppercorn
    Shop Ground Shop Area 999 years from 26th March 2001 Peppercorn
    Offices First Office Space 999 years from 9th July 1998 Peppercorn
    Five Flats Second Not Inspected 999 years from 4th March 1999 Peppercorn
    Flats 4-10 Across first, second and third 5 x Two Bedroom Flats & 2 x One Bedroom Flats Let on a guaranteed rental agreement with flats 4-10 for 24 months from 1st August 2022 £6,600 Pa
    For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on
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    Additional Fees and Disclaimer

    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.

    Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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