Description
A portfolio of ground rents secured to 159 dwellings on a modern estate in a popular residential area. The ground rents are £250pa each against 129 of the dwellings and a peppercorn against the remaining 30.
The gross income receivable is £32,250pa
The dwellings are let on long-leases with c 847 years unexpired
The property is held under two titles, as follows-
Title Number LAN96484 (Leasehold)
913 years (less 10 days) from 25th March 1960
The undeveloped area to the east of the estate is subject to a sublease for 913 years (less 10 days) from the same date.
Full address details are included in the legal pack
Addresses include -
Land to SE of Bolton Road
Rossendale Drive
Barrow Nook Grove
Aldcliffe Court
Freckleton Court
Hornby Close
Brierfield Close
Freckleton Court
Title Number LA546231 (Freehold)
74 Bolton Road
2 Rossendale Drive
Costs
Auction Details
The sale of this property will take place on the stated date by way of Multi lot timed auction and is being sold under the Unconditional sale type.
Binding contracts will be exchanged at the point of sale.
All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 1.8% of the purchase price (subject to a minimum of £2,400 inc. VAT)
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.
This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
