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Lot 22 Click here for addendum

Freehold Ground Rent Investment with 14 Valuable Reversions
In same ownership for over 28 years

Situation

Located close to the junction with St. Luke's Road, within close walking distance of Kidwells Park and Maidenhead Town Centre and approximately ½ a mile from Maidenhead Station (Great Western Railway).
Maidenhead is a prosperous Thames Valley town which lies approximately 26 miles west of central London and enjoys easy access via the A404(M) to the M4 and M40 motorways.

Property

A purpose built residential block comprising 18 Self-Contained Flats planned on the ground, first and second floors.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: Whenever a Flat in Clarence Court is sold the Ground Rent rises in proportion to the increase in value from the previous sale.

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 £4,099,005. Current premium is £6,024.35 p.a.

Note 4: According to Land Registry the most recent sale in the development was of Flat 5 which sold for £174,500 in December 2019.

Note 5: The Lease of Flat 17 (which had an unexpired term of approx. 62 years) was extended in March 2021 for a premium of £22,000.

Note 6: Flats in Clarence Court should not be used for any purpose whatsoever other than as private dwellinghouses to accommodate persons of the state retirement age.

Note 7: The Garages at the rear of Clarence Court are not included in the sale.

Note 8: 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.

Clarence Court, 16/18 Craufurd Rise, Maidenhead, Berkshire SL6 7LU