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Lot 15

Freehold Ground Rent Investment with 9 Valuable Reversions and 1 Regulated Tenancy

Situation

Fronting Gordon Street, close to the junction with Leicester Street and conveniently located close to Lord Street for its variety of independent retailers, cafés, bars and restaurants.
Southport is a popular and affluent town located some 17 miles north of Liverpool enjoying good road access via the A570 to the M58 (Junction 3).

Property

A purpose built residential block comprising 11 Self-Contained Flats planned on ground and two upper floors.

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 Freehold of Flats 12-26 Sandringham Court is also being offered for sale in this auction - see Lot 16

Note 3: The Freeholder insures 1-11 and 12-26 Sandringham Court (Lots 15 and 16) together for a sum insured of £3,000,000 and a current premium of £4,355.51 incl. IPT.

Note 4: There is a Car Park but this is not included in the sale.

Note 5: There may be potential to build on the roof, subject to obtaining the necessary consents.

Note 6: The Lease of Flat 6 Sandringham Court (which had an unexpired term of approx. 55 years) was extended for 90 years in June 2017 for a premium of £11,000.

Note 7: There is a 6 Week Completion.

Enquire about this lot:

JOINT AUCTIONEER:
Anthony James Estate Agents
Tel: 01704 545 800 Ref: Mark Cunningham
mark@ajestateagents.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.

1–11 Sandringham Court, Gordon Street, Southport, Merseyside PR9 0BH