No longer on the market
This property is no longer on the market
MapProperty
Retirement
Auction
Property
Key information
Tenure: Freehold
Council tax, if payable: Ask agent
Features and description
- For Sale by Online Auction
- Auction Date : 06 February 2025
- Lot Number : 9
- Freehold Ground Rent & Unit Transfer Investment
- Ground Rents
- Freehold
- Current Rental : £1,828 Per Annum
- *Guide Price : £30,000 - £35,000 Fees
This interesting investment lot consists of the Freehold of an age restricted (over 55s) development complex comprising of 51 bungalows in the Suffolk town of Sudbury.
In total there is a current ground rent payable of £1,828 per annum which is subject to a review every 21 years. The next review is scheduled for September 2034. The leases were originally granted for the term of 125 years from 1992. The Freeholder has the obligation to insure and maintain the development, the cost of this is recovered by way of a service charge and insurance premiums payable by the Leaseholders.
The Freeholder also has the right to charge a transfer fee of 1% for any assignment transfer, underletting or parting of possession. Further information will be available within the legal pack which can be downloaded from the Clive Emson website.
Tenure
Each of the 51 bungalows were granted a 125 year leases from 1st September 1992.
Auctioneer’s Note
We have been advised by the sellers that their solicitors have served the Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) and the leaseholders have not reserved their rights under the legislation.
Auctioneers Note 2
We have been advised by the seller that the land is offered for sale subject to any legal interest or right of way that may exist, further information can be downloaded from
the Clive Emson website.
Viewing
External viewing only. Applicants may view directly on site during daylight hours taking care to avoid trespassing on route.
Important:
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.
Price Information
*Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at , or contact us on[use Contact Agent Button], in order to stay fully informed with the up-to-date information.
*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to
In total there is a current ground rent payable of £1,828 per annum which is subject to a review every 21 years. The next review is scheduled for September 2034. The leases were originally granted for the term of 125 years from 1992. The Freeholder has the obligation to insure and maintain the development, the cost of this is recovered by way of a service charge and insurance premiums payable by the Leaseholders.
The Freeholder also has the right to charge a transfer fee of 1% for any assignment transfer, underletting or parting of possession. Further information will be available within the legal pack which can be downloaded from the Clive Emson website.
Tenure
Each of the 51 bungalows were granted a 125 year leases from 1st September 1992.
Auctioneer’s Note
We have been advised by the sellers that their solicitors have served the Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) and the leaseholders have not reserved their rights under the legislation.
Auctioneers Note 2
We have been advised by the seller that the land is offered for sale subject to any legal interest or right of way that may exist, further information can be downloaded from
the Clive Emson website.
Viewing
External viewing only. Applicants may view directly on site during daylight hours taking care to avoid trespassing on route.
Important:
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.
Price Information
*Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at , or contact us on[use Contact Agent Button], in order to stay fully informed with the up-to-date information.
*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to
About this agent
Clive Emson Land & Property Auctioneers - Maidstone
Rocky Hill, London Road
Maidstone, Kent
ME16 8PY
01622 279788Clive Emson Auctioneers was founded in 1989 to supply a high profile auctioneering facility to corporate and independent estate agents, private clients and statutory bodies. Our success is due to, and remains, attributable to a firm commitment to quality and service distinguished by both our Investors in People and ISO accreditations. The concept of the Company is to provide a specialist land and property auctioneering service and, therefore, does not compete with the traditional estate agency, mortgage broking, insurance or any other aspect of the property world. All properties upon which we are instructed are offered for sale in the auction catalogue. The 20-25,000 full colour catalogues produced for each of our auctions are available either by post or through a network of over 850 estate agency outlets throughout Southern England. Our marketing is supported by more estate agency offices than any other auctioneers practice. In addition lot details, catalogue downloads, viewings and legal documentation are available through this website.