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Lot 25

Freehold Ground Rent Investment with 1 Short Valuable Reversion
6 Week Completion

Situation

Close to the junction with Osidge Lane, midway between Southgate and Cockfosters in this highly sought-after and popular residential area.
Southgate lies approximately 8 miles north of central London and the property is located less than 1 mile from Southgate Underground Station (Piccadilly Line).

Property

A detached purpose-built block comprising 20 Self-Contained Flats on ground, first, second and third floors. The property includes a Lift, a Parking Area for residents, 19 Garages and Communal Gardens.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: In accordance with s5B of the Landlord & Tenant Act 1987, Notices have been served on the lessees and they have reserved their rights of first refusal. This lot cannot be sold prior to the Auction.

Note 2: Flat 6 Sheridan Lodge (a 2 Bed Flat on the 1st floor) sold for £420,000 in September 2023 (Source: Zoopla).

*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.

Sheridan Lodge, Chase Side, Southgate, London N14 4PJ