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Lot 24

Freehold Ground Rent Investment with 7 Valuable Reversions

Situation

Located in the town's pedestrianised shopping centre amongst such multiple retailers as Superdrug, Savers, Primark, Boots and many others. Stevenage is a prosperous New Town which lies some 15 miles east of Luton and 31 miles north of central London via the A1(M).

Property

A purpose built commercial and residential building comprising Ground Floor Retail Units and separate access from Market Place to 14 Self-Contained Flats (12 x 1 Bed and 2 x Studio) on the first and second floors.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1:
• The rent for Flat 8 doubles every 25 years.
• The rent for Flats 9, 11 & 12 doubles every 21 years.
• The rent for Flats 10 & 13 increases by £250 p.a. every 21 years.

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 £2,459,338. Current premium is £2,890.54 p.a.

Note 4: 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.

1a Market Place & 33 Queensway, Stevenage, Hertfordshire SG1 1DD