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Lot 13 Sold: £231,500

Auction: Thursday 15th April 2021

Spring Park, 11/57 Holmlea Walk, Datchet, Berkshire SL3 9EW

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Lot 13   Click here for addendum

Freehold Ground Rent Investment with 13 Valuable Reversions
In same ownership for over 30 years

Situation

In this residential cul-de-sac off Horton Road, conveniently located approximately ½ a mile from the centre of Datchet and Datchet Station (Mainline Rail).
Datchet is an attractive, picturesque and sought after commuter village providing local amenities to the surrounding residential area, less than 2 miles to the east of Windsor, enjoying excellent road links via the M4 (Junction 5).

Property

A modern development of 4 purpose built residential blocks comprising 24 Self-Contained Flats planned on the ground, first and second floors with 25 Parking Spaces.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: Whenever a Flat in Spring Park is sold the Ground Rent rises in percentage proportion to the original sale price.

Note 2: 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 3: The Freeholder insures. Current sum insured £6,733,098. Current premium is £11,270.60 p.a.

Note 4: The property is managed by Holmlea Road (Datchet) Management Company Limited.

Note 5: The lessee of Flat 45 has agreed to pay a premium of £15,000 (£14,900 for the flat and £100 for the parking space) to extend their lease for an additional 60 years and the ground rent of £569.61 will remain payable.

Note 6: According to Zoopla, the most recent sale in Spring Park was of Flat 37, which sold for £233,000 in August 2018 having a lease with approx. 68 years unexpired.

Note 7: The Lease of Flat 39 (which had an unexpired term of approx. 67 years) was extended for a further 58 years in May 2019 for a premium of £12,900.

Note 8: There is a 6 Week Completion.

Enquire about this lot:

Photo of John Barnett

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

Photo of Elliott Greene

Elliott Greene
020 8492 9449
egreene@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.