Auction House / London
  • For Sale By Unconditional Online Auction
  • Guide Price* : £25,000+
  • Bidding Opens 05/02/2025 09:30

88-92 Turners Hill, Cheshunt, Waltham Cross, Hertfordshire, EN8 8LQ

A Freehold Ground Rent Investment Secured Upon a Semi Detached Building Arranged to Provide Two Ground Floor Shops and Twelve Flats on the First and Second Floors All Sold Off on Long Leases Producing a Combined Ground Rent of £2,700 Per Annum

Location

The property is situated on a mixed use road close to local shops and amenities. Transport links are provided by Cheshunt overground and rail stations.

Description

The property comprises a semi detached building arranged to provide two ground floor shops and twelve flats on the first and second floors (8 x one bedroom, 4 x two bedrooms).

Accommodation

Ground Floor
Two Shops

First Floor
3 x One Bedroom Flats
3 x Two Bedroom Flats

Second Floor
5 x One Bedroom Flats
1 x Two Bedroom Flat

Tenancy

The ground floor shops are subject to one 999 year lease from 9th February 2021 at a peppercorn ground rent.

All twelve flats are subject to 125 year leases from 1st May 2019.

The one bedroom flats (1, 4, 5, 7, 9, 10, 11 & 12) are at a ground rent of £200 per annum with an RPI linked increase every 25 years.

The two bedroom flats (2, 3, 6 & 8) are at a ground rent of £275 per annum with an RPI linked increase every 25 years.
We understand from the vendor that they are in the process of extending the leases on flats 4, 8 & 11 to 999 year leases. The ground rents will remain the same as above,

Important Notice to Prospective Buyers

We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.

Administration Charge

Administration Charge is a non-refundable £1,200 inc VAT payable on the fall of the virtual gavel.

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* Guide | £25,000+
  • Unconditional (Immediate Exchange)

Call the team on 020 7625 9007 for more information

Legal pack Request more info

Note

  1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
  2. General : While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
  3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
  4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
  5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER AUCTION HOUSE NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.