Home » Property Search » Auctions » 13/12/16 » Queensmead & Kingsmead, 569-631 Longbridge Road, Barking, Essex, IG11 9BZ

Lot 43 - Queensmead & Kingsmead, 569-631 Longbridge Road, Barking, Essex, IG11 9BZ

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FREEHOLD PAIR OF BLOCKS OF GROUND RENTS PLUS 32 GARAGES - 1 FLAT WITH 46 YEARS UNEXPIRED.

Guide price: £175,000 - £180,000

Location & Description

A pair of adjoining blocks of flats comprising 32 flats in total together with 32 garages and 8 sheds at the rear. On the north west side of Longbridge Road (A124) at the junction with Goodmayes Lane to the north east of central Barking.

Accommodation

Queensmead:
16 flats: All 130+ years unexpired at a total ground rent of £800 p.a.
Kingsmead:
16 flats: 15 with 130+ years unexpired and one with about 46 years unexpired at a total ground rent of £1,100 p.a.
32 Garages:
12 are leased with the flats
16 let at £8,944 (plus VAT)
4 VACANT
8 Sheds:
4 let at £50 p.a. each and 4 VACANT


EQUIVALENT TO £11,044 p.a. WITH 4 VACANT GARAGES AND SHEDS & 1 FLAT HAVING ABOUT 46 YEARS UNEXPIRED.

Result

Sold for £265,000.

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