Lot 2 - 106 to 112 Marvels Lane, London, SE12 9PG

  • Unconditional Online Auction Sale
  • Guide Price* : £15,000)
  • Ground Rent Investment subject to 4 long leasehold interests
  • Two of the leases have not yet been extended (expiries in 47 and 80 years)
  • 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 COURT APPOINTED RECEIVER: Ground Rent Investment comprising the long leasehold reversion and ground rents from four residential long leasehold interests

Description

The property comprises a ground rent investment, with the long leasehold interest in106 to 112 Marvels Lane (Title No. TGL141648) being sold subject to various long leasehold interests in respect of the 4 self contained flats within the building. Notices served under the Landlord and Tenant Act 1987 and the responses received are included in the Legal Pack. The statutory right of first refusal has not been accepted by the requisite majority of qualifying tenants under the 1987 Act.

106 Marvels Lane: A ground flat subject to a long leasehold interest from 22nd February 2019 to 24th March 2160 at a peppercorn rent and granted upon payment of a premium of £20,500 to extend the original lease.

108 Marvels Lane: A first floor flat subject to a long leasehold interest from 29th September 2004 for a term of 99 years at a rent of £25 per annum (subject to an underlease as detailed in the Legal Pack).

110 Marvels Lane: A first floor flat subject to a long leasehold interest from 25th March 1923 for a term of 147 years at a rent of £10 per annum (subject to an underlease as detailed in the Legal Pack).

112 Marvels Lane: A ground floor flat subject to a long leasehold interest from 16th July 2020 to 24th March 2160 at a peppercorn rent and granted upon payment of a premium of £40,000 to extend the original lease.

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

Leasehold for 999 years from 25th March 1923 at a rent of £20 per annum.

Buyers Administration Fee

There will be a Buyer's Administration Fee of £2700 (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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James Ashworth
0161 967 0122

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