Lot 24 - Freehold Ground Rents, 266 Newport Road, Cardiff, CF24 1RS

  • Unconditional Online Auction Sale
  • Guide Price* : £1,000+
  • Bedrooms: 0

Freehold Ground Rents

Description

ONLINE AUCTION from 8th - 10th March

A ground rent investment secured on 6 flats in a block on Newport Road. The block is situated on one of the main routes to Cardiff City Centre and may offer development potential subject to planning.

We understand the landlord insured and manages the building offering asset management opportunity for the new purchaser.

Accommodation

Property Description Lease Income
Flat 1 999 years from 1 January 2019 1 peppercorn per annum
Flat 2 999 years from 1 January 2019 1 peppercorn per annum
Flat 3 99 years from 29 September 1988 £50 per annum
Flat 4 189 years from 29 September 1988 1 peppercorn per annum
Flat 5 99 years from 29 September 1994 £50 per annum
Flat 6 (second floor) £50 per annum 99 years from 29 September 1988 £50 per annum

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/land transaction tax (LTT). 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.

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