Property for sale in London WC1N, 0 Bedroom

Lot 12 - This lot is for sale by auction as lot 12 on Thursday 28th March 2019.

A Well Located Freehold Ground Rent Investment secured upon an attractive Purpose Built Mansion Block

- Internally arranged to provide Fifteen Self-Contained Flats and Twelve Car Parking Spaces
- Seven Flats subject to Leases with 84 years unexpired
- Three Parking Spaces Vacant
- Nine Parking Spaces subject to Leases
- Reversions from 2104
- Total Current Gross Rent Reserved

£3,200 per annum with vacant possession of three parking spaces

Tenure
Freehold.

Location
Bernard Street (B502) is located off Russell Square (A4200), in the heart of Bloomsbury. The block itself is situated on the north side of Bernard Street, at its junction with Herbrand Street. Extensive shops, restaurants and bars are available at The Brunswick Centre to the east. London Underground services run from Russell Square Station (Piccadilly Line). Euston, King’s Cross and St Pancras International Rail Stations are to the north. The open spaces of Russell Square are close by.

Description
The property comprises a ground rent investment secured upon fifteen self-contained flats situated within a purpose built building arranged over ground and six upper floors. In addition, there are 12 car parking spaces situated within a secure undercroft, which is accessible via a private gated entrance from Herbrand Street.

Accommodation
The accommodation provided by flats with 85 years unexpired is as follows: Flat 1 – Three Rooms, Kitchen, BathroomFlat 1A – Two Rooms, Kitchen, BathroomFlat 5 – Five Rooms, Kitchen, BathroomFlat 6 – Five Rooms, Kitchen, BathroomFlat 7 – Five Rooms, Kitchen, BathroomFlat 8 – Five Rooms, Kitchen, BathroomFlat 10 – Five Rooms, Kitchen, Bathroom

Leases
A schedule of Leases is set out below.

Rights of Pre-emption
The requisite majority of the qualifying tenants have given notice of acceptance, nomination and election.

Management and Insurance
The Freeholder has the right to manage and insure.

Seller’s Solicitor

Messrs Irwin Mitchell (Ref: Sr).Tel: Email: Sue.Reeves@irwinmitchell.Com

Guide Prices. 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. The reserve price is the minimum price at which the property can be sold. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. All guide prices are quoted 'subject to contract'. The latest published guide price, or range of prices, are displayed on our website. The latest published guide, or range of prices, will normally be at or above any reserve price. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any lot may exceed the previously quoted guide price - as the seller may fix the final reserve price just before bidding commences. 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 at: Please check regularly for updates. Lots may be sold or withdrawn prior to auction.