No longer on the market
This property is no longer on the market
MapGarage
Auction
Garage
EPC rating: D
Key information
Tenure: Leasehold | 67 yrs left
Council tax: Ask agent
Broadband: Super-fast 80Mbps *
Mobile signal:
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Features and description
Unsold. Contact the auctioneer.Guide Price = £60,000+
*For Sale By Online PublicAuction 11th December 2024 09:00 AM. To inspect the legal documents for this property go to our website to download the legal pack*
Four Single Storey Lock Up Garages Let on Individual Tenancies Producing £8,856 Per Annum (Reflecting a Gross Initial Yield of 14.76%)
6 Week Completion Available
Tenure
Leasehold. Each garage is held on a 120 year lease from 25th December 1971 (thus approximately 67 years unexpired).
Location
The garages are situated on a residential road close to local shops and amenities. The open spaces of Gladstone Park are within easy reach. Transport links are provided by Neasden underground station (Jubilee line) and Wembley Stadium rail station.
Description
The property comprises four single storey lock up garages.
Tenancy
Garage 2 is subject to a tenancy commencing 29th November 2023 at a rent of £198 per calendar month.
Garage 6 is subject to a tenancy for a term of 1 year commencing 28th October 2024 at a rent of £180 per calendar month.
Garage 7 is subject to a tenancy for a term of 1 year commencing 23rd November 2024 at a rent of £180 per calendar month.
Garage 8 is subject to a tenancy for a term of 1 year commencing 30th September 2024 at a rent of £180 per calendar month.
Note
Further Information
When purchasing a property that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor.
Viewing Appointments to be Confirmed
*For Sale By Online PublicAuction 11th December 2024 09:00 AM. To inspect the legal documents for this property go to our website to download the legal pack*
Four Single Storey Lock Up Garages Let on Individual Tenancies Producing £8,856 Per Annum (Reflecting a Gross Initial Yield of 14.76%)
6 Week Completion Available
Tenure
Leasehold. Each garage is held on a 120 year lease from 25th December 1971 (thus approximately 67 years unexpired).
Location
The garages are situated on a residential road close to local shops and amenities. The open spaces of Gladstone Park are within easy reach. Transport links are provided by Neasden underground station (Jubilee line) and Wembley Stadium rail station.
Description
The property comprises four single storey lock up garages.
Tenancy
Garage 2 is subject to a tenancy commencing 29th November 2023 at a rent of £198 per calendar month.
Garage 6 is subject to a tenancy for a term of 1 year commencing 28th October 2024 at a rent of £180 per calendar month.
Garage 7 is subject to a tenancy for a term of 1 year commencing 23rd November 2024 at a rent of £180 per calendar month.
Garage 8 is subject to a tenancy for a term of 1 year commencing 30th September 2024 at a rent of £180 per calendar month.
Note
Further Information
When purchasing a property that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor.
Viewing Appointments to be Confirmed
About this agent
Auction House London is the largest branch of the Auction House UK brand. Auction House holds more auctions annually than any other firm of auctioneers in the UK and sold 4,957 properties throughout 2018 – over 1,000 properties more than our closest rivals. Co-founded by Andrew Binstock and Jamie Royston in 2011, Auction House London has grown year on year in its relatively short history to become one of the top 5 residential property auctioneers in the UK. We adopt a modern and dynamic approach to offering high quality auction facilities to both corporate and independent sellers and buyers. We firmly believe in the importance of extensive online marketing campaigns in addition to the traditional offline methods. Our forward thinking approach to auctions has been regularly applauded and we are very proud to be recognised as offering extremely high levels of customer service to all of our clients. With a proven track record in residential and commercial investments and property auctions, the team offers a fresh and energetic approach to their auctions, providing a quality service that achieves the right results for all parties.