Situation & Description
Freehold ground rent investment being secured upon 39 self-contained apartments in total, each flat is held on a 125 year lease from 1st June 2017 at a ground rent of:
£300 per annum x 36 apartments
£220 per annum x 1 apartment
£215 per annum x 1 apartment
£170 per annum x 1 apartment
Investment producing £11,405 per annum (with 10 yearly reviews linked to RPI) and freeholder to manage and insure.
Normandy House is located adjacent to The Marlowes Shopping Centre in Hemel Hempstead town centre with nearby shops including; Marks & Spencers, Barclays Bank and Primark as well as being within close proximity to Hemel Hempstead General Hospital and with excellent transport links to the A41, M1and M25 motorways.
Section 5B Notices have been served and the leaseholders have not reserved their right.
The lot is to be sold by online auction on Thursday 10th December at 7pm (bidding opens on Thursday 10th December at 1:30pm)
All interested parties who wish to bid, please contact My Auction on 0207 101 4868
Please note that a Buyer’s Premium of 1.2% inc.VAT of the purchase price is to be paid by the successful Buyer subject to a minimum fee of £2,400 (inc of VAT).
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (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.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.