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Lot 39 - 71A Fairfield Road, Bow, E3 2QA

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FREEHOLD GROUND RENT INVESTMENT ON 8 FLATS

Guide price: £25,000 - £30,000 *

Auction Date

Monday, 27th March 2017 11:00am

Location & Description

A detached block comprising 8 flats accessed via a private gated driveway on the west side of Fairfield Road off Bow Road (A11), just south of Wick Lane and approximately ½ mile from Bow Road DLR station.

Accommodation

The flats are sold off on long leases as follows:

5 flats for 99 years from 23.05.2008 at £250 p.a.
3 flats for 125 years from 11.06.2008 at £250 p.a.

Note

No ground rent or service charge has been collected since the inception of each lease.

EQUIVALENT TO £2,000 p.a.

Result

Sold for £103,000

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.

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* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.