Freehold Interest to Flats 1-8 Imber House, 38 Millway Road, Andover, Hampshire (Archive)

> Freehold & Management Investment Opportunity
> 8 x Flats Sold On 125 Year Leases From 2003
> Increasing Ground Rents - Currently £400 PA

Guide Price: £8,000 - £10,000

Description:

Lease Details

Each flat has been sold on a 125 year lease dated from 25th July 2003, with an initial ground rent of £50 PA per flat which increases by £50 each 25 year term, with a final ground rent payable of £250 PA per flat. The current amount collected is £400 PA.

Description

The Freehold title to 8 flats with the rights to collect the ground rents payable from each flat, along with the Freeholders retaining the rights to manage and insure the building, currently through RMG Property Management.

Agents Note

This is a perfect investment purchase for Professional Landlords/Property Managers. Section 5B Notices have been served and lessees have not reserved their rights under the terms of the notices served.

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.