Freehold Interest to 128/128A Shirley Road, Shirley, Southampton (Archive)

> Freehold Interest Investment Opportunity
> 2 x Flats With Ground Rents Of £509.23 PA
> Making An Excellent Investment Purchase

Guide Price: £10,000 Plus

Description:

Lease Details

Flat 128: Remainder of a 125 year lease from 16th September 1998 at an initial Ground Rent of £250 PA doubling every 25 years (£500 pa from 2023). Flat 128A: Remainder of a 125 year lease from 16th September 1998 with a Deed of Variation providing an index linked ground rent every 10 years (increased to £259.23 in September 2018). Next RPI increase due 2028. Total current Ground Rent collected £509.23 PA.

Description

The Freehold Title to this building is being offered for sale which provides the purchaser with the right to collect the ground rents payable on two long leasehold flats. The Freeholder also has the right to arrange buildings insurance on the property.

Agents Note

This is a sale of the Freehold title and rights to collect Ground Rents only. Viewings of the flats will NOT be possible and lessees rights to privacy must be respected at all times.

Tenure

Freehold

Important Notice

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.