Freehold Ground Rents, The Gospel Hall Langford Road, Bedminster Down, Bristol, BS13 7AR

Guide Price £15,000 - For Sale By Auction - LOT 5

FREEHOLD GROUND RENT INVESTMENT

  • For Sale By Public Auction
  • Tuesday 27th November 2018
  • County Cricket Ground, Bishopston BS7 9EJ
  • Legal Packs via our website

DOWNLOAD BROCHURE

Telephone: 0117 973 4940

Email: admin@maggsandallen.co.uk

How much is your property worth?

Mortgage Calculator


Property price: £

Monthly payment: £0.00


The above is offered for indicative purposes only and should not be relied upon. Rates will vary lender to lender and subject to the customer’s specific circumstances. Fee’s may also apply.

Property Details

GUIDE PRICE: £15,000-£20,000. Freehold ground rents on a former gospel hall that has been converted into 4 self-contained flats. Each flat pays an annual ground rent of £250 (subject to review) giving a total income of £1,000 per annum. In addition, the freeholder has the benefit of managing and insuring the building.

FOR SALE BY AUCTION -

These freehold are due to be auctioned on the 27th November 2018 at The Grace Room, The Bristol Pavilion, County Ground, Nevil Road, Bishopston, Bristol at 7pm.

VIEWING -

External viewing only

SUMMARY -

FREEHOLD GROUND RENT INVESTMENT

DESCRIPTION -

Freehold ground rents on a recently converted former gospel hall that is now arranged as 4 self-contained one bedroom flats. Each flat pays an annual ground rent of £250 (subject to review) giving a total income of £1,000 per annum. The freeholder also has the benefit of managing and insuring the building.

LOCATION -

The property is situated on Langford Road in the popular suburb of Bedminster Down. Easy access is provided to the City Centre and Bristol Airport via the A38.

RENTS -

Each flat pays an annual ground rent of £250 giving a total income of £1,000 per annum.

LEASE DETAILS -

Flat 1 - Sold on a 250 year lease from 1st January 2016.
Flat 2 - Sold on a 250 year lease from 1st January 2016.
Flat 3 - Sold on a 250 year lease from 1st January 2016.
Flat 4 - Sold on a 250 year lease from 1st January 2016.

ADDITIONAL INFORMATION -

We understand the Freeholder also has the benefit of managing and insuring the building. The building is currently managed by BNS Property Management, copies of the service charge accounts will be available in the online legal pack.

NOTES -

In accordance with s.5B of the Landlord & Tenant Act 1987, Notices were served on the lessees and they have NOT reserved their rights of first refusal.

SOLICITOR -

Ms N O'Brien
Barcan & Kirby
199A Whiteladies Road
Clifton
Bristol BS8 2SB
Tel: 0117 325 2929
Tel: n.o'brien@barcankirby.co.uk

BUYER'S PREMIUM -

Please be advised that all purchasers are subject to a £1,000 plus VAT (£1,200 inc VAT) buyer's premium payable upon exchange of contracts.

*GUIDE PRICE -

Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

RESERVE PRICE -

The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

PROXY BIDDING -

If you are unable to attend the auction then you can submit a proxy bid. This will authorise a representative of Maggs & Allen to bid on your behalf up to a pre-set amount. The proxy bidding form is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and 2 cheques (one for the 10% deposit and one for the buyer's premium of £1,200 inc VAT) is required by the auction department no later than 4pm on the day of the auction.

ATTENDING THE AUCTION -

If you are intending to bid and are successful, the following will be required:
* Proof of identity (valid passport or photo driving licence).
* Proof of address (bank statement, recent utility bill, council tax bill or tenancy agreement).
* 10% deposit payment.
* Buyer's premium payment.
* Details of your solicitor.

DEPOSIT & BUYER'S PREMIUM PAYMENTS -

Forms of acceptable payment:

* Cheque
* Bankers Draft
* Debit Card Payment

For card payments:
Please ensure that you advise your bank of the potential payment prior to the auction.

-

Maggs & Allen use all reasonable endeavors to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.