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Home » Property Search » Auctions » Current Auction » 44, 46 & 48 High Street, Chipping Ongar, Essex, CM5 9AE

Lot 42 - 44, 46 & 48 High Street, Chipping Ongar, Essex, CM5 9AE

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FREEHOLD GROUND RENT INVESTMENT

Guide price: £28,000 - £34,000 *

Auction Date

Tuesday, 22nd May 2018 11:00am

Location & Description

A detached block of three purpose built flats.
On the east side of High Street Ongar in a mixed commercial and residential location.

Accommodation

No 44:
99 year lease from 25.12.1970 at a ground rent of £250 p.a. (extended in 2005 by 30 years) now with about 86 years unexpired.
No 46:
99 year lease from 25.12.1970 at a ground rent of £300 p.a. (extended in 2017) now with about 97 years unexpired.
No 48:
99 year lease from 25.12.1970 at a ground rent of £15.75 p.a.
Thus having 51 years unexpired.

Note

The seller advises that the leases of flats 46 & 48 lack landlord's enforcing covenants (in the landlord's favour) thereby offering potential to issue Deeds of Variations to alter the leases.

EQUIVALENT TO £565.75 p.a. WITH FLAT 48 HAVING 51 YEARS UNEXPIRED

Result

Sold for £28,000

* 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.