Lot 1 - Flat 25 Gresham Court, Gresham Road, Brentwood, Essex, CM14 4HW
- Unconditional Online Auction Sale
- Guide Price* : £125,000 plus
- 1 bedroom
- Refurbishment required
- Sold with tenant in situ
ON BEHALF OF THE COURT APPOINTED RECEIVER: 1 bedroom ground floor flat in need of full refurbishment sold subject to a tenant in situ holding over at a rent of £725 per month.
Description
The property comprises a one bedroom ground floor apartment within a purpose built block, that dates from the mid-1990s. The entrance door opens into a hallway, with the kitchen and bathroom the left hand side, a bedroom to the right and the lounge/dining room at the end of the corridor. Heating is provided by electric wall heaters and there is an immersion heater to supply hot water (not -tested). The property needs refurbishment and modernisation throughout. The kitchen and bathroom are in poor condition and suffer from a lot of damp and black mould growth. The bathroom has no floor covering and the carpet in the bedroom is very worn.
The property is currently occupied by a tenant who has a statutory periodic monthly tenancy following expiry of an AST granted for 12 moths from 1st October 2006.
The tenant informs us that the current rent is £725 per month.
Please note the tenure is leasehold with approximately 56 years until expiry so likely only suitable for cash buyers. Also note we are not acting for the freeholder so can't confirm the cost of a lease extension.
Location
The property within the centre of Brentwood, with Gresham Court accessed from Gresham Close. Brentwood is a suburban town with retail facilities on the High Street, within walking distance of the property. Local bus routes are also easily accessed on the nearby B186 and Brentwood Railway station is less than 300m to the south, served by the Elizabeth Line with Liverpool Street Station 40 minutes away.
Tenure
Leasehold for a term of 99 years from 29th September 1980 (Title number EX247171). The the ground rent will be £60 per annum rising to £100 per annum in 2046.
Accommodation
Ground Floor : Entrance Hall, Kitchen, Bathroom, Lounge and Bedroom - 49.26 sq.m (530 sq. ft)
Outside
The lease includes a garage.
Tenancies
We have been supplied with a copy AST agreement granted for 12 months from 1st October 2006 at an initial rent of £600 per month. The tenant on site informed us that it was not renewed so if correct he is occupying under a statutory periodic monthly tenancy. We were told that they are currently paying a rent of £725 per month, equivalent to £8,700 per annum. Please note the Recveivers have not attempted to collect any rent and this information cannot be verified.
EPC
Energy Asset Rating TBC.
Council Tax Band
C
Lease Start Date
29/09/1980
Lease Duration
99 years (56 years unexpired)
Annual Ground Rent
£60
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.
3. The property is being sold under Proceeds of Crime legislation. Please see Legal Pack for further details.
* 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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