56 / 58 / 68 & 70 Maldon Road, Southend-on-Sea

£13,000 Auction guide price

This Freehold / Ground Rent Investment is secured against two Semi-Detached Buildings arranged as four self-contained flats (all sold off on leases). The approximate unexpired lease terms are as follows: Number 56 - 59 years, Number 58 - 79 years, Number 68 - 87 years and Number 70 - 93 years. The Ground Rents are currently producing an income of £335 per annum and this is due to increase in the future.

EXISTING LEASES 56: 99 years from the 25th December 1986
58: 99 years from the 13th April 2006
68: 99 years from the 25th December 2014
70: 189 years from the 25th December 2020

CURRENT GROUND RENTS 56 - £35 per annum
58 - £100 per annum
68 - £100 per annum
70 - £100 per annum

NB Please note that in accordance with the Landlord and Tenant Act Section 5(b) Notices have been served to the Lessees.

AGENTS NOTE Please note that the individual flats have been sold off on leases and are NOT included in this sale.
The buildings (and the flats within them) have not been inspected by Hair & Son Auctions.

LEGAL PACK For confirmation of and further information on the leases and ground rents please refer to the legal pack

TENURE Freehold

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