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    Auction House London
    Lot 117
    2 Rostella Road
    Streatham, London, SW17 0HY
    Withdrawn Prior.
     
    All
    Number 1
    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)

    Description

    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.

    Note

    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.
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    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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