Studio Flat For Sale £100,000
1-11 Lytton Court, Barter Street, London, WC1A 2AH

Interested parties should contact Knight Frank Auctions for further information.

Description
Freehold Ground Rent Investment in Bloomsbury close to Oxford Street
Close to Holborn & Tottenham Court Rd stations (Central, Elizabeth & Northern Lines)
Includes 10 flats let on leases expiring in 2116 (93 years unexpired)
Total Ground Rent £3,000 pa exclusive

The property comprises a 5-storey building.

TENURE

Freehold

TENANCY

10 Flats each let on a lease expiring 24/03/2116 at £300 per annum and 1 Flat on a lease expiring 25/03/2206 at a peppercorn rent. 10 flat ground rents rising in 2041 to £600 pa, 2066 to £1,200 pa & in 2091 to £2,400 pa.

Total Ground Rent £3,000 per annum exclusive rising in 2041 to £6,000 per annum - 2066 to £12,000 per annum & £24,000 per annum in 2091.

NOTICES

Notices have been served in accordance with Section 5 & 5B of the Landlord and Tenant Act 1987. The notices were served on the 10th August 2023. The tenants have not responded to the notices within the set time. Should the property sell at auction the tenants are not able to exercise the right of pre-emption on this sale. Please see legal pack for further details.

Location
The property is located at the junction of Barter Street and Bloomsbury Court close to its junction with Oxford Street, New Oxford Street & Bloomsbury Way (A40)

Located in the heart of London with Tottenham Court Road & Holborn underground stations, British Museum, Covent Garden, Lincolns Inn Fields & Soho all within 500 metres.

Tenure
Ground Rent Investments

Buyers Fee
The buyers fee is £1500 including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property.

Auction Details
The sale of this property will take place on the stated date by way of and is being sold as Unconditional.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to the Common Auction Conditions and Extra General Conditions.

Auctioneer Fees and Deposit
The following deposits and non-refundable auctioneer fees apply:

• 10% deposit, subject to a minimum of £5,000. The deposit contributes to the purchase price.
• Buyer’s Fee- the value of this fee will be listed against the property details, inclusive of VAT.

The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees contained within the Special Conditions of Sale, which can be viewed within the Legal Pack. You are strongly advised to read the Legal Pack carefully before bidding.

Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.