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Lot 7 Click here for addendum

Freehold Ground Rent Investment with 18 Valuable Reversions in approx. 45 years and development opportunity
In same ownership for over 25 years
6 week completion

Situation

Located from both Lansdowne Road and Hampden Lane in this popular residential area being approx. ¾ mile from Northumberland Park, Bruce Grove and White Hart Lane Overground Stations. In addition, the area is within close proximity to the various shopping facilities in the High Road.
Tottenham is a busy mixed use area lying approx. 8 miles north of central London.

Property

2 substantial detached Residential Blocks separated by a communal garden together with a detached block of 15 Garages as follows:

- Horsham Court - Fronting from Lansdowne Road and comprising a block of 18 Self-Contained Flats planned on ground, first and second floors together with a large front forecourt for parking.

- Dorking Court - Accessed from Hampden Lane and comprising a block of 18 Self-Contained Flats planned on ground, first and second floors together with a large front forecourt for parking.

- A detached block of 15 Garages accessed from Hampden Lane.

There is potential to create substantial roof developments on both the Residential Blocks and Garage Block to create additional flats, subject to obtaining possession and the necessary consents.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: In accordance with s.5b of the Landlord and Tenant Act 1987, Notices have been served on the lessees and they have reserved their rights of first refusal. This lot cannot be sold prior to the auction.

Note 2: The deposit will only be 5% of the purchase price.

Note 3: The most recent sale in the block was Flat 13 Horsham Court which sold for £250,000 in April 2017 having a lease for 99 years from 2002.

Note 4: The lessees of 9 and 15 Dorking Court have served s.42 Notices quoting £35,000 for an additional 90 year lease extension for each flat and the Freeholder has subsequently served counter Notices quoting £67,700 for each flat. The Purchaser will take-over these negotiations after completion of the auction sale.

Note 5: When 17 Horsham Ct was sold in 2014 the lease for Garage 10 was not sold with it. The whereabouts of the lessee for Garage 10 is unknown and rent of £9 p.a. has remained unpaid since 2014. Therefore, there may be potential to repossess this garage.

*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 £1,000 plus 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.

Horsham Court, Lansdowne Road & Dorking Court, Hampden Lane, Tottenham, London N17 0LP