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Lot 18

Freehold Ground Rent Investment with 13 Valuable Reversions
In same ownership for over 39 years

Situation

Located in this cul-de-sac off Butlers Road, adjacent to St Teresa's Catholic School and close to the junction with Wood Lane in the suburb of Handsworth Wood.
The property is conveniently located, being approximately 2 miles north of Birmingham City Centre and enjoying good road links to the M6 (Junction 6).

Property

A purpose built residential block comprising 18 Self-Contained Flats planned on the ground and two upper floors together with 13 Garages.

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 £2,409,750. Current premium is £3,428.06 p.a.

Note 3: According to Land Registry, Flat 9 Richmond Close sold for £89,950 in June 2019 having a lease for 189 years from 1977.

Note 4: The Lease of Flat 8 was extended for 90 years in 2019 for a premium of £12,000.

Note 5: The Lessee of Flat 2 has agreed to pay a premium of £13,000 to extend their lease and this is now in solicitor's hands.

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.

Richmond Close, Butlers Road, Birmingham, West Midlands B20 2NZ