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Lot 21

Ground Rent Investment
6 Week Completion

Situation

Located in this residential suburb 1½ miles south of Harrow town centre, adjacent to both Subury Hill Underground & Mainline Stations.

Property

An ex Network Rail estate comprising 2 large strips of land totalling an area of approx. 6.95 Acres. The site contains a mixture of commercial units and residential dwellings, of which 80 are houses.

Accommodation

Hartington Close - 48 Houses and 16 Flats plus Thomas Hewlett House (sheltered/retirement flats) and Jem Patterson Court (Housing Association Flats)
Tyrell Close - 32 Houses
135 Greenford Road - Office Building

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to The Mayor and Burgesses of the London Borough of Harrow for a term of 999 years from 10th August 1972 at a peppercorn ground rent.

Note 1: In the early 1980's, the estate was developed by Harrow Council. Under the Council's Right to Buy Scheme, 69 properties have to date been sold off on 125 year leases from 1985 onwards.

Note 2: In 2017, No. 85 Hartington Close (91 years unexpired) bought in the freehold interest of their house and the Vendor received a payment of £1,000, net of costs.

Note 3: In 2019, No. 9 Tyrell Close (105 years unexpired) and No. 10 Tyrell Close (92 years unexpired) also bought in their freeholds and the Vendor received £1,000 on each transaction, both net of costs.

Note 4: Ealing Council paid £500 net of costs in 2018 for a Licence for Alterations in respect of the Station footpath ramp.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

Land at Hartington Close and Tyrell Close, Sudbury Hill, Harrow, Middlesex HA1 3RN