COVID-19 – Important Auction Information
For Sale By Auction | 12:00, 20 July 2022 | Lot 7

Trafalgar House, 55 Fourth Avenue, Frinton on Sea, Essex CO13 9DY

*Guide | £20,000 (plus fees)

  • Block of Apartments
  • Tenure: Freehold

Call the team on 01702 33 33 99 for more information

Auction Date

Wed 20/07/2022

Auction Time

12:00

Auction Venue

LIVE STREAM, www.AuctionHouse.Online

A FREEHOLD INVESTMENT FOR A PRESTIGOUS BLOCK OF 5 FLATS SOLD ON LONG LEASES IN A HIGHLY DESIRABLE AREA.

The freehold of the property only, the 5 flats sold on leases of 125 years from January 2007 currently producing £1,150 per annum with rent increases set at every 25 years. The uplift will be an extra £150 per flat at the first 25 year interval with £200 uplift on each subsequent 25 year interval. Please see the legal pack for details.

Tenure

Freehold

GROUND RENTS

Current Ground Rents: Apartment 1- £250 P.A Apartment 2- £150 P.A Apartment 3- £250 P.A Apartment 4- £250 P.A Apartment 5- £250 P.A TOTAL: £1,150 P.A

ESTIMATED VALUES

Apartment 1- £345,000 Apartment 2- £295,000 Apartment 3- £425,000 Apartment 4- £285,000 Apartment 5- £315,000

Local Authority

Tendring District Council

Additional Fees

Buyer's Premium - £1800 inc VAT payable on exchange of contracts.

Administration Charge - 0.6% 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.