A Portfolio of Residential Ground Rents, (including rent charges), North West

Lot Image

Auction sale - Monday 11th December 2017

Result:

Sold Prior to auction, for an undisclosed amount

  • Freehold reversionary ground rents and rent charges
  • Ground rents secured on about 350 houses
  • Rent charges secured on about 59 flats
  • Producing £4,471.43 per annum

Addendum

A Portfolio of Residential Ground Rents, (including rent charges), North West
The property at 413 Bury and Bolton Road (MAN141844) is to be withdrawn from the portfolio and will no longer form part of the sale.

Details

Location

The individual assets are located throughout various towns in the North West of England including Salford, Radcliffe, Heywood, Crumpsall and Bolton. Full addresses can be found on the summary schedule within the legal pack.

Description

A portfolio of reversionary ground rents and rent charges secured against a variety of houses and flats. The ground rents are secured against about 350 freehold houses, all subject to 999 year leases. The rent charges are all secured against a mixture of about 59 houses and flats sold on 999 year interests. The reversionary ground rent assets are generally a mix of terraced and semi detached houses.

Tenure

A mix of freehold houses and rent charges secured against long leasehold flats and houses

VAT

Refer to the legal documentation

Energy Performance Certificate

No EPC required

Note

A full summary of the tenancies and rent charges can be found within the legal pack.

Address Accommodation Tenant Lease Terms Rent £ pa
TOTAL £4,471.43
Various 348 houses Various Various 999 leasehold leases £3,830.99
Various 59 flats Various Rent charges £640.44

Joint auctioneers

Carter Jonas

Sam Johnson

01423 707801

sam.johnson@carterjonas.co.uk

Contact

Seller's solicitor

Bromets Solicitors

Abigail Mitchell

01937 838041

abigail.mitchell@bsl-law.co.uk

* Guide price

The guide price is an indication of the minimum price at which, or if a guide price range is given, within which, the seller is prepared to sell at the date of publication. The guide price is not an anticipated sale price or valuation. All prices quoted are subject to contract.

* Reserve price

The reserve price is the minimum price acceptable to the seller and the price below which the auctioneer cannot sell.

Both the guide and reserve may be subject to change up to and including the day of the auction. The guide price does not include either VAT which may apply to the sale or other amounts the seller may charge. The seller’s Special Conditions of Sale and addendum if any, will state whether there are other seller’s charges and whether the seller has elected to charge VAT on the sale price. On the fall of the hammer a buyer’s fee is payable of £990 inclusive of VAT.

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