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Lot 5

Reversionary Residential Ground Rent Investment
On behalf of Executors
6 Week Completion

Situation

Located at the junction with Orchard Road within this popular and sought after residential area approx. ⅓ mile from St Margarets Station (South Western Railway) and the surrounding local shopping facilities.
Twickenham lies less than a mile west of Richmond and approx. 11 miles south-west of central London.

Property

A semi-detached period building comprising 3 Self-Contained Flats. In addition, the property includes a front forecourt for parking with shared street access with the adjoining building (No. 209 - see Lot 6).

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: The lessee of Flat 2 served a s.42 Notice on 22/4/20 requesting a 90 year lease extension at a peppercorn ground rent for a premium of £49,095. The Vendor will not reply and will pass the benefit of this extension to the Purchaser who will have until 27/7/20 to reply to the s.42 Notice following completion of the sale of the freehold.

Note 2: Rent has not been demanded or collected for many years and the Purchaser will be passed the benefit of any arrears.

Note 3: In accordance with s.5B of the Landlord & Tenant Act 1987, Notices have been served on the lessees and they have not reserved their rights of first refusal. This lot cannot be sold prior to the Auction.

Note 4: The Freeholder insures. Current sum insured is £742,000. Current premium is £1,399.91 p.a. incl. IPT.

Note 5: 6 Week Completion.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

207 St Margaret’s Road, Twickenham, Middlesex TW1 1LU