LOT 15

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

Result: Sold prior to auction, for an undisclosed amount Guide price: Sold Prior*

Auction Date

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.

Accommodation

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.

Lease Details

125 years from 1995 at a ground rent of £100 p.a. and a service charge of £60 pcm.

Tenancy Details

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.

Status

Sold prior to auction, for an undisclosed amount

Addendum

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.

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.