Lot 3 - 122 to 128 Marvels Lane, London, SE12 9PG
- Unconditional Online Auction Sale
- Guide Price* : £200,000 plus
Addendum
A Section 42 Notice in respect of 124 Marvels Lane has been served on the Freeholder. A copy is in the Legal Pack.
- Block of 4 Flats
- 2 Vacant Flats
- 2 Subject to long leasehold interests and ground rent income
- Renovation/Refurbishment Required
ON BEHALF OF THE COURT APPOINTED RECEIVER: Freehold end terrace property split into 4 flats effectively comprising 2 vacant two bedroom flats and ground rents from a further 2 flats
Description
*VIDEO TOUR AVAIALBLE ON REQUEST* The property comprises an end terrace freehold property split into 4 flats. In practical terms the purchaser is acquiring a refurbishment and renovation opportunity, with 2 vacant two bedroom flats, a vacant parcel of land plus the added benefit of ground rents from the 2 other flats within the building. Notices received under the Leasehold Reform Housing and Urban Developments Act 1993 and notices served and responses received under the Landlord and Tenant Act 1987 are included in the Legal Pack. The nominated purchaser under the 1987 Act has not served notice to make its election that the provisions of Section 8B of the Landlord and Tenant Act 1987 shall apply.
The interests being sold are 3 Titles: the freehold of 122 to 128 (Even) Marvels Lane (Title TGL141650), which is the main building and most of the garden; the freehold interest in a small parcel of land at the rear of the garden which was formerly the location of a garage for 126 Marvels Lane and is not encumbered by any leasehold interests (Title TGL184684) and the leasehold interest in 128 Marvels Lane (Title SGL129298), which is a vacant 2 bedroom ground floor flat. In addition there is 126 Marvels Lane, which is a vacant 2 bedroom first floor flat (effectively part of freehold title TGL141650).
Both vacant flats and the building are in need of extensive renovation and repair works.
The main building is also sold subject to long leasehold interests in 122 Marvels Lane and 124 Marvels Lane which will provide a ground rent opportunity to the purchaser as follows:
122 Marvels Lane: A ground floor one bedroom flat subject to a long leasehold interest from 29th September 2004 at a rent of £25 per annum for a term of 99 years (also subject to an underlease as detailed in the Legal Pack. Note this leaseholder has recently served a Section 42 notice - copies are also available in the legal Pack).
124 Marvels Lane: A first floor one bedroom flat subject to a long leasehold interest from 29th September 2004 at a rent of £25 per annum for a term of 99 years (also subject to an underlease as detailed in the Legal Pack).
Location
Situated within a residential area, with the property being situated close to local shops and amenities. Bus routes can be accessed directly from Marvels Lane and Grove Park Railway Station is within 10 minutes walk.
Tenure
Freehold and a long leasehold (the purchaser could chose to merge).
Accommodation
The 2 vacant flats which the purchaser will have control over have the following dimensions (max widths):
126 Marvels Lane:
Hall
Kitchen: 3.41m x 3.02m
Bathroom: 2.35m x 2.48m
WC
Lounge: 3.40m x 3.77m
Bedroom: 4.36m x 3.53m
Bedroom: 2.56m x 2.85
128 Marvels Lane:
Hall
Bedroom: 4.39m x 3.58m
Lounge: 2.98m x 4.19m
Kitchen:2.25m x 2.46m
Bedroom: 2.06m x 3.77m
Bathroom: 1.28m x 2.66m
Outside
Small front garden and rear garden
EPC
Energy Asset Rating is G for 126 Marvel & F for 128 Marvel.
Buyers Administration Fee
There will be a Buyer's Administration Fee of £2,700 (inc VAT) payable upon exchange of contracts.Additional Information
1. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.
2. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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