Next auction Thursday 15th August 2.30PM

78 Houses, Various Locations, Sheffield, South Yorkshire, S17 4RN



Sold
£30,000
Sold
£30,000
Sold
£30,000
Sold
£30,000
Sold
£30,000
Sold
£30,000
Sold
£30,000
Sold
£30,000
Sold
£30,000
Guide price

£10,000+


Property Type

Investment


Key Features

  • Comprising a Portfolio of Freehold ground rents secured against 78 Leasehold houses
  • An opportunity to purchase an attractive management opportunity
  • Last 3 enfranchisement purchases in 2023 have been at £1,000 per property (the Lessees paid for the freeholders legal fees)

Part of the 22 June 2023 auction
The Nottingham Racecourse at 2.30PM

An opportunity to acquire an attractive management opportunity comprising a portfolio of freehold ground rents secured against 78 Leasehold houses.

  • 78 Leasehold houses located in Sheffield
  • All title information available in the Legal Pack
  • Schedule of Ground Rents and lease terms in Legal Pack
  • Lease terms are 800 years, dates ranging from 1888 to 1966
  • Seller hasn't collected Ground Rents, unless requested by Lessee
  • An attractive management opportunity
  • Potential to generate Ground Rent income
  • Opportunity for deed of variation for property extensions
  • Equally for deed of variation on property improvements
  • Scope to collect notice fees from sales/re-mortgage
  • Enfranchisement opportunity
  • Last 3 enfranchisement purchases in 2023 have been at £1,000 per property along with the Lessees paid for the freeholders legal fees
  • Red line plans and legal pack to be uploaded the following week after bank holiday weekend

No viewings will be undertaken

Fees

A buyer's premium of £1,440 inc VAT (£720 inc VAT if the sale price is less than £10,000) is applicable to each lot purchased. The Seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of sale. Buyers are deemed to bid in full knowledge of this.

Guide Prices and Reserve Prices

Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily 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. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.

Conditions of Sale

The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.

The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.

Freehold subject to the leases stated in the Legal Pack with a total Ground Rent for the entire portfolio of £314 pa

Refer to Legal Pack

Email: rplant@tolhurstfisher.com
Telephone: 01702352511

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