Lot 23 Click here for addendum
Freehold Ground Rent Investment with 4 Valuable Reversions
In same ownership for over 38 years
Situation
Located in this cul-de-sac off Terrace Road South close to its junction with Foxley Lane, less then ½ a mile from the village's shops and amenities.
Binfield is a desirable and sought after village situated between Wokingham and Bracknell in the prosperous Thames Valley enjoying excellent road access to the M4 (Junction 10) via the A329M.
Property
A purpose built residential block comprising 15 Self-Contained Flats planned on the ground, first and second floors set within landscaped Communal Gardens.
VAT is NOT applicable to this Lot
FREEHOLD
Note 1: Whenever a Flat in Underwood 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 reserved their rights of first refusal. This lot cannot be sold prior to the Auction.
Note 3: The Freeholder insures. Current sum insured £3,640,000. Current premium is £4,032.49.
Note 4: According to Land Registry the most recent sale in the development was of Flat 5 which sold for £190,000 in June 2020 having a lease for 135 years from 1st August 1979 (thus having approx. 94 years unexpired).
Note 5: The Lease of Flat 12 was extended in 2016 for a premium of £18,000.
Note 6: There is a 6 Week Completion.