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Lot 4

Reversionary Residential Investment
In same ownership for almost 20 years.

Situation

In the popular ‘Groves' area of Shepherds Bush within close proximity of Goldhawk Road and located less than a mile from White City Underground Station (Central Line) and Wood Lane Underground Station (Circle & Hammersmith & City Lines). Westfield Shopping Centre lies approx. 1 mile to the east.

Property

A 2 storey terraced house.

Accommodation

Believed to be a 3 Bed House (not inspected internally)

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to an Individual for a term of 90 years from 25th March 1933 (thus having 1¾ years unexpired) at a fixed ground rent of £7 per annum.

Note 1: This lot was offered in our 27th May 2021 auction with a Reserve Price below £300,000 and it sold after many bids for £513,000. The Purchaser failed to pay the full 10% deposit and the Vendors have treated that as a repudiation of the contract.

Note 2: The property was recently affected by a fire.

Note 3: The property was to be insured by the lessee, but we are not aware if any insurance is in place to cover reinstatement.

Note 4: A 3 bed terraced house at No. 85 Thorpebank Road sold in February 2020 for £760,000 (Source: rightmove.co.uk).

Note 5: There is a 6 Week Completion.

*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.

85 Willow Vale, Shepherds Bush, London W12 0PA