Property for sale in South Croydon CR2, 0 Bedroom

Lot 156 - This lot is for sale by auction as lot 156 on Thursday 28th March 2019.

A Freehold Ground Rent Investment secured upon a Detached Building internally arranged to provide Fourteen Self-Contained Flats and Site to Rear

Total Current Rent Reserved

£6,050 per annum

Tenure
Freehold.

Location
The property is located on the west side of Haling Park Road, to the south of Warham Road. An extensive range of shops, bars and restaurants is available in Croydon to the north. Rail services run from South Croydon Station approximately 0.7 miles to the north-east. The A23 is to the west. The open spaces of Purley Way Playing Fields are nearby.

Description
The property comprises a ground rent investment secured upon a detached building arranged over lower ground, raised ground, first and second floors beneath a pitched roof. The building is internally arranged to provide fourteen self-contained flats. The property includes a site to the rear.

Tenancies
Flats 1-14 are each subject to a lease for a term of 125 years from June 2013 (thus having approximately 109 years unexpired) at a current ground rent of £400 per annum. The rear site is subject to a new lease for a term of 125 years from completion at an initial ground rent of £450 per annum.

Rights 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.

Seller’s Solicitor

Messrs Lex Sterling Solicitors (Ref: Ic). Tel: Email: Ishcheema@lexsterling.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.