105 Sheering Mill Lane, Lawrence Moorings, Sawbridgeworth, Herts, CM21 9PF
A LONG LEASEHOLD, TENANTED, 3RD FLOOR APARTMENT WITHIN A MODERN, PURPOSE BUILT BLOCK PRODUCING £19,200 PER ANNUM
Thursday, 20th February 2020 12:00pm
BY ORDER OF B TOBIN & P J WATERFIELD OF STRETTONS AS LPA RECEIVERS
The property is part of a substantial development of purpose built flats adjacent to the canal and waterways approximately 1/2 mile from Sawbridgeworth town centre and the Sawbridgeworth rail station with it's mainline service to Liverpool Street. Stansted Airport lies some 8 miles to the north east, with good road links via the M11 motorway and the A120.
Ground Floor: Communal entrance hall with stairs to floors,
Third Floor: Entrance hall, kitchen, lounge, three bedrooms (one with en-suite bathroom) and house bathroom.
Externally there are communal gardens with ponds and canal access, a dedicated parking space and visitor parking. The development is private and gated.
125 years from 1995 at a ground rent of £100 p.a. and a service charge of £60 pcm.
Each of the three bedrooms are let on 12 month ASTs from April 2018 (holding over) room 3 at a rent of £600 pcm and rooms 1 and 2 at a rent of £500 pcm each, giving a total rent with an annual equivalent of £19,200.
The lease began on 21st July 1991 for 125 years, so there is 96 years left on the lease. The Service Charges for all 194 Flats is £598.41 paid in June and £598.41 paid in December, which equates to £1196.82 per year. The Ground Rent for a 3 Bed Flat is £175.00 paid in June and £175.00 paid in December, which equates to £350.00 per year.