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Lot 19 Click here for addendum

Freehold Residential Ground Rent Investment with 3 Valuable Reversions & 7 individually let Garages
6 Week Completion

Situation

Located within this residential neighbourhood and within easy walking distance to the local shopping facilities and Underground Station (Metropolitan Line) in nearby Preston Road.
Wembley lies some 7 miles north-west of central London.

Property

A purpose built block comprising 16 Self Contained Flats planned on the ground and first floors. In addition, the property includes rear gardens and vehicle access to 16 Garages to the rear of the property.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: The entire site lends itself to redevelopment to include additional storeys, all of which is subject to possession and the necessary consents.

Note 2: Flat 126 (1 Bedroom, Living Room, Kitchen, Bathroom/WC plus garage) sold in June 2021 for £255,000.

Note 3: The lease on Flat 134 (1 Room, Kitchen, Bathroom/WC) was extended for a further 90 years in May 2021 for a premium of £21,500.

Note 4: Flat 136 (1 Room, Kitchen, Bathroom/WC) sold in August 2020 for £199,000 (Source: zoopla.co.uk).

Note 5: The Freeholder insures - Current sum insured £2,567,318 and current premium £3,556.96 p.a.

Note 6: In accordance with s.5B of the Landlord and 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.

*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 £1,000 plus 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.

126–156 (even) Carlton Avenue East, Wembley, Middlesex HA9 8NB