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Lot 14 Click here for addendum

Freehold Ground Rent Investment with Development Potential
6 Week Completion

Situation

Located off Sparrows Herne in this popular residential area near to the local shopping facilities in Bushey Heath.
Bushey lies approx. 13 miles north-west of Central London and 2 miles south-east of Watford Town Centre and enjoys good road links via the A41 and the M1 (Junction 5).

Property

An irregular shaped site of approx. 1.35 acres upon which stands 4 detached blocks comprising 25 Residential Units (Flats & Maisonettes) along with 25 Garages, all of which are sold-off on long leases.
15 of the 25 Garages are accessed via a right of way through Linnet Close.
The site includes communal gardens.

VAT is NOT applicable to this Lot

FREEHOLD

POTENTIAL DEVELOPMENT OPPORTUNITIES (see Photos and Site Plan)
The following 4 potential development opportunities are all subject to obtaining the necessary consents:

Development 1 - As the buildings were constructed between 1st July 1948 and 5th March 2018, there is potential to add a two storey building adjoining the block containing Nos. 10-13 Swallow Close to create 2 Flats by way of Permitted Development under Class A, Part 20 in Schedule 2 of The Town and Country Planning (General Permitted Development) (England) Order 2015 which was amended in 2020.
Development 2 - Construction of additional Garages adjacent to the existing garage block in Swallow Close.
Development 3 - Construction of additional Garages on the land to the rear of Nos. 1-9 Swallow Close which could then be potentially accessed using the right of way that exists over Linnet Close.
Development 4 - Construction of additional Flats on the existing Garage Site at the end of Swallow Court, but this will require possession of the Garages as they are each sold-off on long leases.

*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.

1–13 Swallow Close & 206–228 (even) Merry Hill Road, Bushey, Hertfordshire WD23 1AU