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Lot 4 Click here for addendum

Mixed Use Freehold Investment
In same ownership since 1979
6 Week Completion

Situation

Located opposite the junction with Stewart Avenue, close to Upminster Park and forming part of this retail thoroughfare approximately 350 yards to the south of Upminster town centre.
Upminster is a popular commuter town located some 15 miles east of the City of London and 4 miles south-east of Romford, enjoying excellent road access via the A124 which links with the M25 motorway.

Property

An entire parade built in the 1930's comprising a block of 15 15 Ground Floor Shops with separate front and rear entrances to 20 Self-Contained Flats planned on the first and second floors.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: 17 of the Flats have been extended on leases expiring 14th December 2193 at Peppercorn ground rents - the most recent paying £4,190 plus costs to the Freeholder.

Note 2: The Freeholder insures the 15 shops. Current sum insured £2,240,000. Current premium £5,280.70 p.a.

Note 3: The 20 flats are currently insured by the Head lessee (Baltercourt Ltd). Current sum insured £2,823,748. Current premium £3,852.97 p.a. The lease states that this should be in the Freeholder's Agency.

Note 4: The Freehold Title enjoys communal rights over the gardens and grounds of the adjoining block, being flats 21-44 Springfield Court - see area shaded blue on Plan. This benefit may not have been passed on to the underlessees of flats 1-20 Springfield Court.

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*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.

83-111 (odd) Corbets Tey Road & Flats 1-20 Springfield Court, Upminster, Essex