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Lot 18

Residential Investment – On behalf of Joint Fixed Charge Receivers
6 Week Completion

Situation

Located directly off Vicarage Lane and within walking distance to Newbury Park (Central Line) and Seven Kings (Elizabeth Line) Stations. De Havilland Square is approx. 1 mile from the multiple shopping facilities in Ilford Town Centre.
Ilford is a popular suburb that lies approx. 9½ miles north-east of central London with good road access to the North Circular Road (A406), M11 and M25.

Property

Forming part of a modern development comprising a Self-Contained Flat on the third floor which includes a Juliet balcony.
In addition, the property includes 1 parking space.

Accommodation

Third Floor Flat
Believed to be a 2 Bed Flat
(The Joint Fixed Charge Receivers and Barnett Ross have not inspected the flat and no warranty is provided with the accuracy of the accommodation)

Area Approx. 645 sq ft¹
_{¹Area taken from EPC}

VAT - refer to the special conditions of sale in the legal pack.

Tenure

Leasehold for a term of 999 years from 31st January 2005 at an initial ground rent of £350 p.a. doubling in 2030, 2055 and 2080.

Tenancy

The property is let to Finefair Ltd for an unknown term at a current rent of £11,100 per annum (£925 pcm).

Note 1: Finefair are London's Largest Rent Guarantee Company (source: www.finefair.com). We understand the flat is currently used as emergency accommodation by The London Borough of Southwark.

Note 2: Flat 59 (2 Beds) sold in July 2024 for £275,000.

*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.

Flat 43 De Havilland Square, Piper Way, Ilford, Essex IG1 4DE