LOT 20

Exchange House, 107 Butts Green Road, Hornchurch, Essex, RM11 2LD

FREEHOLD VACANT ROOF TOP DEVELOPMENT (PP FOR FLAT) PLUS GROUND RENTS
Guide price: £180,000 plus*

Auction Date

Tuesday, 22nd May 2018 11:00am

Location & Description

Although with an Essex address Hornchurch is in the London Borough of Havering about 2 miles east of Romford just to the south of the Southend Arterial Road (A127) which leads to junction 29 of the M25.
An attractive detached building converted into six flats with secure gated access and parking on the west side of Butts Green Road within a short distance of Emerson Park mainline station.

Accommodation

PLANNING PERMISSION has been GRANTED for the erection of a roof extension to create a flat with private amenity space together with the extension and alteration of the stairwell & external areas.
(Plans show a 2 BEDROOM FLAT with roof top balcony).
Plus six flats each with parking and each sold on 125 year leases, 5 from 01.01.2008 & 1 from 25.08.2010 at £200 p.a. (doubling every 25 years).

Note

The seller advises that capped off gas, water and waste pipes are already on the first floor in anticipation of the development.

EQUIVALENT TO £1,200 p.a. PLUS PLANNING PERMISSION FOR '2 BEDROOM PENTHOUSE FLAT'

Status

Addendum

The lease for flat 4 is 126 years from 01.01.2008.

* 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.