Freehold interest, The Gallery , 8-10, Radcliffe Road, NOTTINGHAM, Nottinghamshire, NG2 5FW
starts 10:00 AM at Grand Connaught Rooms
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Freehold & ground rent investment opportunity
10 x apartments sold on 126 year leases
Ground rents per flat £175 PA until 31/12/2037
All 10 flats have been sold on long 126 year leases from 1st January 2017. Each flat pays an annual ground rent of £175 PA until 31st December 2037, which then increases to £250 PA until 31st December 2057 and thereafter, subject to the stated terms of the lease.
Total current ground rents payable £1,750 PA.
This freehold investment is located within the heart of Trent Bridge, just a few minutes walk from the River Trent, Trent Bridge Cricket Ground, Nottingham Forest Football Club and Nottingham Rugby Club. The area
provides a range of amenities including a Gym and a local McDonalds along with local facilities and public transport.
This double fronted building is a well presented example of a part conversion and part new build containing 10 x apartments, all sold on long 126 year leases with each flat paying £175 PA ground rent. A management company is in place which the lessees have a share in, to deal with the day to day management of the communal grounds and building. All buyers are advised to have checked the legal pack and taken any appropriate legal advice necessary regarding this, prior to bidding.
(1) At the time of going to press, lessees have not reserved their rights under the issued Section 5B notices.
(2) The red line plan shown is for guidance purposes only. Buyers are advised to view the legal pack to clarify the exact boundaries of what is being sold, prior to bidding.
No internal viewings. Enquiries to:
Fox & Sons Auctioneers
32-34 London Road, Southampton, Hampshire, SO15 2AG
T 023 8033 8066
For each Lot, a contract documentation fee of £1,150 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.
1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.
Lot location is based upon nearest property postcode only. Actual location of property being sold may differ.
Information about this lot will be sent to your friend.