Auction House London

Lot 93

Block of Apartments - Flats / Apartments 

33 and 33A Hanover Road

Tottenham, London, N15 4DL

£45,000+

Guide Price (plus fees)

A Freehold Reversionary Ground Rent Investment Secured Upon Two Self-Contained Flats with 61 Years Remaining on Each Flat

Description

The property comprises a mid terrace building 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 Markfield Park are within easy reach. Transport links are provided by Seven Sisters underground station (Victoria line).

Tenancy

Each flat is sold off on a 99 year lease from 24th June 1985 (thus approximately 61 years unexpired) at a ground rent of £50 per annum.

Note

The property has not been inspected by Auction House London. All information has been supplied by the vendor.

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.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.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
Ground Floor Flat One Bedroom Held on a 99 year lease from 24 June 1985 £50
First Floor Flat Two Bedroom Held on a 99 year lease from 24 June 1985 £50

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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For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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Enquire about 33 and 33A Hanover Road, Tottenham, London, N15 4DL

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