Auction House London

Lot 5

 

Darwin Court

172 Balaam Street, Plaistow, London, E13 8RB

Sold Prior to auction, for an undisclosed amount.

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

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