Auction House London

Lot 5

 

Darwin Court

172 Balaam Street, Plaistow, London, E13 8RB

£200,000+

Guide Price

A Freehold Ground Rent Investment Secured Upon Twenty Four Flats Producing £2,879 per annum & Seventeen Garages (Thirteen of the Garages are Sold Off on Long Leases). Four of the Flats have Leases Expiring in 48 years and One with 73 years and therefore Highly Reversionary. There is Potential to Redevelop The Roof Space To Provide Further Residential Units (Subject to obtaining all necessary consents).

Description

The property comprises a ground rent investment secured upon 24 flats situated within two purpose built blocks arranged over ground and two upper floors.

Tenure

Freehold

Location

The property is situated in the East London area of Plaistow close to local shops and amenities as well as being moments from the open spaces of Plaistow Park. Transport links are provided by Plaistow underground station (Circle, District and Hammersmith & City lines).

Exterior

The property benefits from 17 garages (13 sold off on long leases) and communal parking.

4 of the sold off flats are subject to leases with 48 years and 1 sold off with 73 years unexpired thus making them highly reversionary

Note (2nd Column)

S5(b) Notices have been served under the Landlord & Tenant Act 1987 and the leaseholders have not reserved their rights.

Viewing Details

Sold Prior

Bold Black Text

Current Rent Reserved £2,879 per annum

Addendum

Sold Prior

Additional Fees

Administration charge: £1,200 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.

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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 Darwin Court, 172 Balaam Street, Plaistow, London, E13 8RB

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