Auction House London

Lot 36

 

The Magenta Site

Barnsley Road, Wombwell, Barnsley, South Yorkshire, S73 8HA

Sold for £140,000.

A Ground Rent Investment Secured Upon 88 Houses Producing £8,800 per annum

By Order of the LPA Receivers

Description

The property comprises a ground rent investment secured upon 88 units consisting of 1, 2, 3 and 4 bedroom houses.

Tenure

Freehold

Location

The property is situated in the town of Wombwell approximately 4 miles South East of Barnsley town centre. Transport links are provided by Wombwell rail station.

Tenancy

The site is subject to a 999 year lease to Strata Homes Midlands Ltd from 31st August 2007. Each home in the development is sold by way of a sub-lease at a Ground Rent of £100 per annum rising by £50 per annum every 25 years.

Viewing Details

Please refer to us directly on: 0207 625 9007

Bold Black Text

Current Rent Reserved £8,800 per annum

Addendum

We have been advised that no rent has been demanded or collected for the current year i.e. on and from the 1st January 2015, and the Seller shall contract not to issue any demands.

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.

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their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction.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 The Magenta Site, Barnsley Road, Wombwell, Barnsley, South Yorkshire, S73 8HA

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