Lot 1 - 39 Gunnersbury Lane, London, W3 8ED

  • Unconditional Online Auction Sale
  • Guide Price* : £10,000 plus
  • Ground Rent Investment
  • One leasehold interest has 58 years unexpired
  • The lessees have NOT elected to take up their rights of pre-emption under the terms of the Landlord and Tenant Act 1987.

ON BEHALF OF THE TRUSTEE IN BANKRUPTCY: Ground Rent Investment comprising the freehold reversion and ground rents from two residential long leasehold interests (expiring in 58 and 149 years respectively)

Description

The property comprises a ground rent investment, with the freehold reversion to 39 Gunnersbury Lane (Title No. MX155722) sold subject to a long leasehold interest to First Floor Flat 39b Gunnersbury Lane, which is 99 years from 25th December 1981 at a ground rent of £50 per annum (Lessee's Title No. NGL420807) and to Ground Floor Flat A , 39 Gunnersbury Lane, which is for terms commencing on 27th November 2017 and expiring 24th December 2171 at a peppercorn rent (Lessee's Title No: NGL423784).

The lessees have NOT elected to take up their rights of pre-emption under the terms of the Landlord and Tenant Act 1987.

The premium calculated in accordance with the Leasehold Reform, Housing and Urban Development Act 1993 when the lessee of Flat A exercised their rights was £37,000 in 2017. Flat 41b next door comprising a two bedroom first floor flat sold for £375,000 in 2020 with a 999 year lease from 2006. The freehold of 35 Gunnersbury Lane sold for £37,000 in 2018 and that was subject to leasehold interest in respect of the flats that were 99 years and 125 years from 1989.

Location

The property fronts Gunnersbury Lane in a convenient location for Acton Town Underground Station( District and Piccadilly Line) approximately 350 metres to the south and Acton town centre, with local retail and leisure facilities is approximately 300 metres to the north.

Tenure

Freehold, subject to long leasehold interests.

Tenancies

First Floor Flat 39b Gunnersbury Lane: Subject to a lease for 99 years from 25th December 1981 at a ground rent of £50 per annum

Ground Floor Flat A , 39 Gunnersbury Lane: Subject to a lease commencing on 27th November 2017 and expiring 24th December 2171 at a peppercorn rent.

Buyers Administration Fee

There will be a Buyer's Administration Fee of £2400 (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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