Lot 37 - Freehold Subject to a Short Lease at 6 Blake Road, Newport, NP19 0JH

  • Unconditional Online Auction Sale
  • Guide Price* : £50,000+

Freehold Subject to a Short Lease

Description

ONLINE AUCTION from 7th DECEMBER-9th DECEMBER

For sale is the freehold of this property.

The property itself is an end of terrace, bay fronted house with off-road parking and space for garage.

Note regarding this ground rent: The purchaser for this lot will secure the freehold, subject to a lease being in place. The lease that is in place expires in under 11 years time. If after this time no action is taken by the lessee, the property will revert to the freeholder. If between now and the expiration of the lease, the lessee exercises his/her right to request a lease extension, a substantial cost will be paid to the freeholder. An online app calculates the cost to the lessee at present to be £124,000 and rising as the lease shortens. This therefor represents a lucrative investment to any purchaser.

No viewings as this is a freehold investment

Tenancies

Tenancy: The property has a 99-year lease from 24/06/1933

Tenure

Advised Freehold - to be verified by solicitor

Auction Fees And Additional Costs

Auction fees: The sale of each lot is subject to a buyer’s premium of 1.2% of the purchase price (subject to a minimum of £975) including VAT unless otherwise stated.

Additional costs: The purchase of the property may be subject to (but are not limited to), VAT (if applicable), reimbursement of the seller’s search fees, reimbursement of seller’s legal and/or sales costs, stamp duty. Please check accompanying legal pack for further details.

* 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.

Bidding not yet open
Minimum Opening Bid

£45,000


Bidding Opens On
7th Dec 2021 12:00
Scheduled End Date

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