LOT 2 INVESTMENT GROUND RENT FREEHOLD OPPORTUNITY

PROPERTY DETAILS

This lot consist of two long lease ground rent investments within a mid-terrace converted premises over the ground floor and first floor.

RIGHT OF PRE-EMPTION

The lessees have not elected to take up their rights of pre-emption under the terms of the Landlord and Tenant Act 1987.

MANAGEMENT AND INSURANCE

The Freeholder has the right to manage and insure

TENURE

Freehold

Rent Schedule

Messrs Sandu & Shah Solicitors
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*Terms & Conditions: Residential Lots

Buyers should note that additional charges, fees or encumbrances may apply on the fall of the hammer. All Buyers should read these terms and conditions, and check the Special Conditions of Sale for the property and any Addendum before deciding whether or not to bid on a lot.

Guide Prices

1. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller might be prepared to sell on the date on which the guide price, or range of prices, is published.
2. The guide price may be subject to change up to and including the day of the auction. All guide prices are quoted “subject to contract”.
3. The latest published guide price, or range of prices, is displayed on our website. These will normally be at or above any reserve price.
4. Please note that guide price for the Lot does not include:
a. The Buyers’ Fee charged by the Auctioneers
b. VAT on the sale price
c. Additional costs and fees charged by the seller or third parties that might apply to some Lots and/or some buyers.
For more information, please read “Additional Charges” below.
5. If a guide price is listed as “TBA”, it means that there is no guide price at present – please do not call our office. The guide price, or range of prices, will be published online immediately it becomes available. Please check regularly for updates.

Reserve Prices

6. The reserve price is the minimum price at which the property can be sold.
7. Whilst every effort is made to ensure that the advertised guide prices are up-to-date, it is possible that the reserve price set for any lot may exceed the previously quoted guide price. This is because the seller may fix the final reserve price just before bidding commences.
Buyers’ fees, Seller’s fees, additional charges and encumbrances
8. For each Lot, on the fall of the hammer, a Buyers’ Fee is payable to Westcolt Ltd as follows:
a. Lots sold for £10,000 or more: Buyers’ Fee of £1,000 inclusive of VAT;
b. Lots sold for less than £10,000: Buyers’ Fee of £200 inclusive of VAT
9. Additional charges and fees may be charged by the Seller and/or other third parties and encumbrances on the land may also apply. Please note that these are wholly outside of the control of Westcolt Ltd. Prior to bidding, Buyers must therefore read in advance and on the day of the Auction the Special Conditions of Sale and any Addendum in respect of the property to check for any additional costs, charges and/or any other encumbrances that may apply.
10. VAT on the sale price may also apply. The Lot Particulars indicate whether VAT is applicable to the Lot.
Other terms
11. Please note that lots may be sold or withdrawn at any time prior to auction.
12. Cheques for Deposits and Buyers’ Fees to be made payable to ‘Westcolt Ltd Clients Account’. NB. Buyer’s Fees may be varied. Please refer to the addendum, the particulars or the conditions of sale.
13. Please be aware some Deposit cheques are to be made payable to the Vendors Solicitors, see Lot pages for details.