Property for sale

Ground Rents, 1-51 Banham Drive, Sudbury, Suffolk CO10

This investment comprises the freehold of an age-restricted (over 55s) development complex comprising 51 bungalows in the Suffolk market 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 main structure of the building, the communal facilities etc., the cost of these being recovered by way of a service charge, payable by the Leaseholders.

The buyer is required to provide an undertaking to the Office of Fair Trading. Further information, as well as a copy of the undertaking relating to the contingency and transfer fees given by the Seller, is included in the legal pack which will be available to download from the Clive Emson website.

Tenure
Freehold with each of the 51 bungalows owned separately on leasehold titles for a term of 125 years from 1st September 1992.

Auctioneer's Note
We have been advised by the seller the land is offered for sale subject to any legal, equitable or overriding interest that may exist. Further information may 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 en 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 , 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