Lot - Ground Rent Investment, The Horizon, Navigation Street, Leicester, LE1 3UJ Auction Lot £325,000+ - Auction Estates

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Nottingham Racecourse


13 December 2018

Navigation Street, Leicester, LE1 3UJ

Available Price: REFER TO AUCTIONEER

Unsold

Key Features

  • Ground rent investment secured on a block of 112 apartments
  • Freehold with a Total Current Rent Reserved of £16,800 per annum
  • Lease terms are 150 years from June 2006
Draft Details Only

The freehold ground rent investment with a Total Current Rent Reserved of £16,800 per annum secured upon this block of 112 apartments in Leicester city centre.

• Prominent city centre location by Burleys Flyover
• Ground rent investment secured on a block of 112 apartments
• Lease terms are 150 years from June 2006
• Valuable ground rent reviews with fixed increases
• 98 apartments at £150pa (25yrs), uplifting to £300pa (50yrs)
• After 75yrs these rents are subject to fixed increase of £450pa
• 14 apartments at £150pa (50yrs), uplifting to £300pa (50yrs)
• After 100yrs these rents are subject to fixed increase of £450pa
• 999yr lease of a commercial unit at a Peppercorn Ground Rent
• Includes a telecoms mast let for 999 years
• Telecoms mast at a Peppercorn Ground Rent
• An ideal investment opportunity

VAT

Interested parties should refer to the Special Conditions of Sale for confirmation of whether VAT is applicable to the sale price.

Viewings

This is a ground rent investment only - no viewings will be conducted.

Important Notices

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Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.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

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