* Freehold
* For Sale by Online Auction
* Auction Date : 20 March 2024
* Lot Number : 97
* Freehold Investment With Sixteen Garages And Ground Rent Investment
* Ground Rents
* Freehold
* Current Rental : £13, 449 Per Annum
* *Guide Price : £180, 000 - £185, 000 + Fees
A large purpose - built modern block of 30 flats and 16 garages situated to the
south of Grays town centre and within three/four miles of Lakeside shopping
centre and the M25/A13 Dartford river crossing.
Each flat has been sold on a long leasehold, the details of which are
contained in the table below. 15 of the flats are sold on the original leases
for
99 years, from 24th June 1987, at a ground rental of
£100 per annum.
In addition, there are 16 garages which are each separately let with a total
current rental income of £10, 848 per annum (garage 13 is currently vacant).
**Auctioneer’s Note**
Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been
served and the leaseholders have not reserved their rights under the
legislation. We are advised that there is a Right to Manage Company in place.
**
Important:
All lots are sold subject to the Common Auction Conditions and Special
Conditions of Sale (unless varied by the Sellers Solicitors), together with
the Addendum, which will be available on the Auction Day. **
**Please note, following the Governments advice, lots are now being offered
via our online platform. To register for our online auction please go to our
online auction page . For further information please go to or call us on .
Price Information
*Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at , or contact us on , in order to stay fully informed with the up - to - date information.
*An Administration fee and Other non - optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to **

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