For Sale By Auction | 14:00, 06 June 2019 | Lot 38

Freehold Ground Rents, Foundry House, Hall Street, Long Melford, Sudbury, Suffolk, CO10 9JR

Sold £13,500

  • Mixed Use
  • Tenure: Freehold

Call the team on 01473 558 888 for more information

Auction Date

Thu 06/06/2019

Auction Time

14:00

Auction Venue

The Wolsey Room Holiday Inn, London Road, Ipswich, IP2 0UA

A Freehold reversionary Ground Rent investment

This reversionary investment comprises the Ground Rents on 2 retail units and 5 flats. Each of the properties have been sold on 999 year leases at Ground Rents of £50 per annum for 6 of the units and £100 per annum for the 7th, this increases by £50 every 25 years and is payable annually on 1st December. There are no fixed maintenance charges but each leaseholder is responsible for one seventh of any repairs and maintenance to the building. The leaseholder of the retail units also pays a total of £970 per annum service charge for cleaning to the rear of the premises, there is no formal agreement to this effect but it has been paid by quarterly invoice for the last 7 years. Total income £1,370 per annum.

Tenure

Freehold

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Babergh District Council

Solicitors

Birketts LLP, Brierly Place, New London Road, Chelmsford, CM2 0AP, Ref: Beth Grieg, Tel: 01245 211335

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £900 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.