Savills Property Auctions | Stafford Close, off Reservoir Road, Southgate, London N14 4BD

November 2021: Wednesday 10 November 2021 - 9:00am

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Key features

A detached residential block comprising 18 flats and 18 garages
Each sold on a lease
Ground rent Investment let at £1,625 per annum
Airspace and garage development potential subject to requisite consents
Front car parking spaces not included in the leases.
Well located in popular residential area near underground station and Trent Country Park

Description

A three storey detached block arranged as eighteen self contained flats.

There are three garage blocks comprising eighteen garages.

Airspace and garage development potential subject to the requisite consents.

Front car parking spaces not included in the leases.

Additional information

Tenure

Freehold

In accordance with Section 5B of the Landlord and Tenant Act 1987, notices have been served on the lessees and they have NOT reserved their rights of first refusal.

Accommodation

Ground Floor - 1 x Studio (Flat 1), 1 x One Bedroom (Flat 8) , 4 x Two Bedroom (Flats 2,7,13,14)

First Floor - 1 x Studio (Flat 3), 1 x One bedroom (Flat 4), 4 x Two Bedroom (Flats 9,10,15,16)

Second Floor - 1 x Studio (Flat 5), 2 x One Bedroom (Flats 6,12), 3 x Two Bedroom (Flats 11,17,18)

Three Garage Blocks - 18 Garages

Tenancy

Flat 1 - 134 year lease from 14,10.2020 Ground Rent a peppercorn.

Flat 2 & Garage 2 - 156 year lease from 25.12. 1965 Ground Rent a peppercorn.

Flat 3 - Headlease 999 years from 01.01.2021 Ground rent a peppercorn

Flat 4 - 125 year lease from 24.06.2005 Ground Rent £200 per annum rising to £400 per annum in 2038.

Flat 5 - Headlease 999 years from 01.01.2021 Ground Rent a peppercorn

Flat 6 - 157 year lease from 25.12.1965. Ground Rent £50 per annum rising to £100 per annum in 2031

Flat 7 & Garage 7 - 157 year lease from 25.12.1965. Ground Rent a peppercorn.

Flat 8 - 156 year lease from 25.12.1965. Ground Rent £150 per annum rising to £300 per annum in 2034.

Flat 9 & Garage 9 - 156 year lease from 25.12.1965. Ground Rent a peppercorn.

Flat 10 & Garage 1 -156 year lease from 25.12.1965. Ground Rent £25 per annum.

Flat 11 - 156 year lease from 25.12.1965. Ground Rent £50 per annum

Flat 12 - Headlease- 999 years from 01.01.2021 Ground Rent a peppercorn

Flat 13 - Headlease 999 year lease from 01.01. 2021 Ground Rent a peppercorn

Flat 14 & Garage 13 - 156 year lease from 25.12.1965. Ground Rent a peppercorn.

Flat 15 - 156 year lease from 25.12.1965. Ground Rent a peppercorn.

Flat 16 - 189 year lease from 25.12.1965. Ground Rent a peppercorn

Flat 17 & Garage 17 - 156 year lease from 25.12.1965. Ground Rent £50 per annum rising to £100 per annum in 2024

Flat 18 & Garage 18 - Headlease 999 year lease from 01.01.2021 Ground Rent a peppercorn

Garages 3,4,5,6,8,10,11,12,14,15,16 - Each sold on a 125 year lease from 01.01.2017 Ground Rent £100 per annum.

Garages 1, 2,7,9,13,17,18 - Please refer to Flat lease

Rent

Total Current Ground Rent £1,625 per annum

Contact

Stafford Close is a residential cul de sac running eastwards off Reservoir Road forming part of a popular residential area off the southside of Bramley Road.

Local shopping amenities are close by whilst the retail centre of Southgate is nearby.

The leisure areas of Trent Park Country Park, Oakhill and Oakwood Parks are within easy reach.

Good road links provide access to the North Circular Road (A406), M25 A10, A1(M) and M1.

Transport

Underground - Oakwood (Piccadilly Line)

National Rail - Oakleigh Park

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If no EPC rating appears please refer to the legal pack.

•Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

•The reserve price is the minimum price at which the property can be sold.

•Both the guide price and reserve price may be subject to change up to and including the day of the auction.

•For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

Please note that all prices listed, whether prior to or post auction, are subject to contract.

The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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