Property for sale1-27 (Odds), Creine Mill Lane North, Canterbury, Kent
- For sale by auction
- Ground Rent
Lot 56 - This lot is for sale by auction as lot 56 on 15th December 2016.
A Freehold Ground Rent Investment secured upon a Building internally arranged to provide Fourteen Self-Contained Flats
The property is situated on the west side of Creine Mill Lane North, to the west of its junction with Old Watling Street. An extensive range of local shops and amenities is available in Canterbury city centre. Road communications are afforded by the A28, which links with the A2(M), whilst Rail services run from Canterbury East Station with a journey time to London Victoria and Charing Cross of approximately 1 hour 40 minutes. The open spaces of Greyfriars Gardens are within walking distance.
The property comprises a freehold ground rent investment secured upon a mid terrace building arranged over ground, first and second floors beneath a pitched roof. Internally, the property is arranged to provide fourteen self-contained flats.
Each of the flats is subject to a lease for a term of 125 years from 1st September 2005 (thus having approximately 114 years unexpired). Thirteen flats pay a current rent of £260.64 per annum, increasing on the 1st September 2018 and every 5 years thereafter in line with RPI. One flat pays a current rent of £325.80 per annum, increasing on the 1st September 2018 and every 5 years thereafter in line with RPI. NB. The Lessees have NOT elected to take up their rights of pre-emption under the terms of the Landlord & Tenant Act 1987. NB. The management company repairs and freeholder insures.
Total Current Rent Reserved
£3,714.12 per annum
Guide Prices. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller might be prepared to sell on the date on which the guide price, or range of prices, is published. The reserve price is the minimum price at which the property can be sold. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. All guide prices are quoted 'subject to contract'. The latest published guide price, or range of prices, are displayed on our website. The latest published guide, or range of prices, will normally be at or above any reserve price. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any lot may exceed the previously quoted guide price - as the seller may fix the final reserve price just before bidding commences. If a guide price is listed as 'TBA', it means that there is no guide price at present - please do not call our office. The guide price, or range of prices, will be published online immediately it becomes available at www.auction.co.uk. Please check regularly for updates. Lots may be sold or withdrawn prior to auction.
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*Guide Price: An indication of a seller's minimum expectation at auction and given as a Guide Price or a range of Guide Prices. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a Reserve Price below which the property cannot be sold at auction. Normally the Reserve Price will be set within the range of Guide Prices or no more than 10% above a single Guide Price.
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