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Lot 12 Sold: £17,000

Auction: Wednesday 28th October 2020

A Portfolio of 233 Rentcharges in Avon, Cheshire, Greater Manchester, Lancashire, Merseyside & Somerset

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Lot 12   Click here for addendum

Gross Yield 24.8%
4 Week Completion

Situation

A portfolio of 233 Rentcharges on 255 houses in various locations throughout Avon, Cheshire, Greater Manchester, Lancashire, Merseyside and Somerset.

VAT is NOT applicable to this Lot

Note 1: The last two sales of rentcharges to rentpayers (Freeholders) were completed on 28th August 2020 at 10 times the annual rentcharge payable.

Note 2: According to the Government's website, the cost of a statutory rentcharge redemption is at present about 16 to 17 times the annual amount of the rentcharge. Visit: www.gov.uk/guidance/rentcharges

Note 3: There are currently arrears totalling £10,203.95 of which £6,729.48 has been accrued within the last 6 years. The Purchaser will be liable to pay 50% of these arrears accrued over the last 6 years on completion, i.e. £3,364.74 - refer to rentcharge schedule from Auctioneers for full breakdown of arrears.

Note 4: Rentcharges will compulsorily extinguish on 22nd July 2037. Therefore, if none of these rent charges are redeemed before this date, total income received will amount to over £44,000.

Enquire about this lot:

Photo of Steven Grossman

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

Photo of John Barnett

John Barnett
020 8492 9449
jbarnett@barnettross.co.uk

*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.