in London

Block F, Lollard Street, Ethelred Estate, London, SE11 6BH
  • Lot No: 2
  • Contract Type: Unconditional with Fixed Fee
Knight Frank

Guide Price* £100,000+ plus fees

Property Description

A Ground Rent Investment secured upon 7 x 1 bedroomed apartments and 5 x 2 bed apartments. Total current income received £5,900 p.a Each of the 12 apartments is held on a lease for a term of 250 years (less three days) from 30 August 2019. Each 1 bedroomed apartment is paying a ground rent of £450pa whilst each 2 bedroomed is paying a ground rent of £550pa. Total current rent received £5,900p.a.

Location:

Located just 8 minutes walk from Kennington Station and 15 minutes to Waterloo, Kennington is diverse and vibrant – an area with a distinct style characterised by open green spaces and smart Georgian and Victorian architecture. There’s a strong feeling of community spirit here, with an active residents’ association, local theatres and neighbourhood events throughout the year. Kennington retains the elusive small-town charm of an area that looks and feels lived in, but benefits from every convenience that living in a major metropolitan can offer


Leasehold:

Held on a long lease for a term of 250 years at a peppercorn ground rent.


Note:

The buyers fee for this lot is £1,200 inc VAT


Rights of Way, Wayleaves, Easements, Restrictive Covenants Etc.

The site is sold subject to or with the benefit of any Rights of Way, Wayleaves, Easements, Restrictive Covenants, which may exist whether mentioned in these particulars or not. For further information in relation to these matters please refer to the legal pack.


Tenure

Leasehold


Viewing Details

Please ensure you have viewed the video tour, if there is one available, and if you would still like to view the property please contact the auction team.

Legal Pack

The Conditions of Sale (also known as the legal pack) will be deposited at the offices of the auctioneers and sellers’ solicitors/licensed conveyancers prior to the auction and the buyer shall be deemed to have knowledge of same whether inspected or not. They are also available to download from our website (under the Lot Information section). Any questions relating to them must be raised prior to the auction. Prospective buyers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn. The buyer will also be deemed to have read and understood the Buyers Terms printed within the sale catalogue and available under the Lot Information section of our website.

*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, will 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. A full definition of the Guide Price and the Reserve Price can be found in the Buyers Terms.

Energy Performance Certificates

EPCs can be viewed in full in the legal pack or from the lot information section of our website.

Auction Type: Unconditional with Fixed Fee

Contracts are exchanged on the fall of the hammer and a 10% deposit will be taken from the highest bidder. This deposit will contribute towards the purchase price. Prospective buyers will need to register to bid remotely via our website, prior to the auction day. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or cheque deposits.

Auction Fees

The sale of this lot is subject to a buyer’s fee which is stated above and payable on the fall of the hammer. The purchase of this property may include additional associated fees not listed here. Any additional fees will be confirmed in the legal pack which can be downloaded from our website from the Lot Information section, or to find out more about any additional fees associated with this property please contact the auction office.

Auction Details

Date 17th December 2020

Venue Knight Frank Auction
The auction will be conducted by SDL Auctions auctioneer Andrew Parker, behind closed doors and broadcast live online with remote bidding only. Please CLICK HERE to submit a bid.

Contact Us

If you have any questions, call our team on 020 7861 5520

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