44, 46 & 48 High Street, Chipping Ongar, Essex, CM5 9AE
Result: Sold for £28,000 Guide price: £28,000 - £34,000*
Tuesday, 22nd May 2018 11:00am
Location & Description
A detached block of three purpose built flats.
On the east side of High Street Ongar in a mixed commercial and residential location.
99 year lease from 25.12.1970 at a ground rent of £250 p.a. (extended in 2005 by 30 years) now with about 86 years unexpired.
99 year lease from 25.12.1970 at a ground rent of £300 p.a. (extended in 2017) now with about 97 years unexpired.
99 year lease from 25.12.1970 at a ground rent of £15.75 p.a.
Thus having 51 years unexpired.
The seller advises that the leases of flats 46 & 48 lack landlord's enforcing covenants (in the landlord's favour) thereby offering potential to issue Deeds of Variations to alter the leases.
EQUIVALENT TO £565.75 p.a. WITH FLAT 48 HAVING 51 YEARS UNEXPIRED