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Lot 2 Click here for addendum

Residential Ground Rent Investment with 5 Valuable Reversions & 6 Vacant Garages

Situation

Located close to the junction with Belmont Avenue within this popular west London suburb being a short walk from the various local shopping facilities in King Street and less than ½ mile from Southall Station (Overground).
Southall lies approx. 11 miles west of central London and enjoys excellent road links via the M4 (Junction 3) and A40.

Property

A purpose built residential block with a gated entrance comprising 9 Self-Contained Flats planned on the ground and two upper floors together with 10 Garages (See Note 5) to the rear of the property.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: In accordance with s5B 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 2: The Freeholder insures. Current sum insured £2,408,738. Current premium is £1,838.28 p.a.

Note 3: The lease of Flat 8 (which had an unexpired term of approx. 56½ years) was amended by way of a Deed of Variation to provide a new term of 120 years from July 2019 for a premium of £28,000.

Note 4: There is potential to create additional accommodation in the roof space, subject to obtaining the necessary consents.

Note 5: The garages are in a dilapidated condition and the structures of garage Nos. 6 and 7 no longer exist.

Note 6: There is a 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.

Western Court, Western Road, Southall, Middlesex UB2 5HD