Land and development in TW14for sale by online auction: Terms and conditions apply.
We are pleased to offer to auction this ground rent investment opportunity with planning permission, located in Feltham, Greater London. For sale is the freehold title of six flats, which generate an income of £100 per flat per annum (£600pa in total). This increases every 33 years throughout the term. As well as the income, the freehold has been granted full planning permission for the erection of an additional floor to create an additional top floor three bed flat. The leasehold of Flat 3 within the block achieved a sale price of £246,000 in December 2017.
Lease DetailsAll six flats are subject to long leasehold titles of a term of 125 years, commencing 25th December 1995, paying the following ground rents:First 33 years of term: £100 per annum (£600pa in total)Second 33 years of term: £150 per annum (£900pa in total)Third 33 years of term: £200 per annum (£1,200pa in total)Remainder of term: £250 per annum (£1,500pa in total)Freehold. Title number MX23316.
Planning PermissionThere has been planning permission granted on 19/12/2018 for the 'erection of an additional floor to create one additional flat with associated refuse storage and car and cycle parking.' Planning reference 02295/B/P1.
EPCAvailable upon request (ratings D, D D, E, C).
Additional InformationFor further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest. Continued...
Preliminary Payment (Holding Deposit)
Once you have found a property and your offer has been accepted by the landlord, we will require a Preliminary Payment (Holding Deposit)
Between £500.00-£1,000.00 (depending on the value of the property), deducted from your final completion monies.
We handle all the paperwork and provide a tenancy agreement for you and your landlord to sign. The fee is based on the size of the property, the number of tenants and rental value:
• Up to £1,500.00 pcm:£600.00 per tenancy
• Up to £2,00.000 pcm: £660.00 per tenancy
• Over £2,000.00 pcm: £poa per tenancy
Includes an employer’s reference to confirm your income to rent ratio for affordability, a credit history check, confirmation of residency and a previous landlord’s reference (if applicable).
• £60.00 per person
Initial Move in Monies
All the initial move in monies and will need to be paid in cleared funds to us 3 days prior to move in.
The deposit will be protected as part of the tenancy deposit regulations; we use the industry renowned my|deposits. 6 weeks rent prior to moving into the property, this will be refunded to you at the end of the tenancy minus any deductions, if applicable.
Inventory Check In procedure
A convenient time will be arranged for you to meet with the inventory clerk to formally check you into the property. Prices vary according to the size of the property.
• Studio: £125.00
• 1 Bedroom: £145.00
• 2 Bedrooms: £155.00
• 3 Bedrooms: £175.00
• 4 Bedrooms: £190.00
• 5 Bedrooms: £210.00
Other fees that may apply
Within 5 working days or less
In the event that an appointment has been booked with you and you fail to be present at the agreed times without prior notification to us.
Renewing a tenancy
• £120.00 administration fee per tenancy
Credit check at renewal
In some circumstances, it may be a pre agreed requirement for a new credit check to be obtained at the point of renewal.
• £60.00 per person
If you decide to move on and require for us to provide you with a reference to your new agent or landlord.
Tenancy Swap Fees
Administration: Covering contract negotiation, amending terms, updating the tenancy agreement during the tenancy and immigration and visa confirmation.
• £300.00 per tenancy
Referencing: Referencing the new occupant, including identity, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability
• £60 per tenancy
Note: All prices quoted are inclusive of VAT at 20%.
If you have any questions regarding our fees please feel free to ask a member of staff.
Average weekly rent of nearby studios.
Gross yield if rented for the average rent.
Property prices in this area have increased at this rate per year over the last 5 years.
If historic price growth continues, this property could be worth this much in 5 years.
020 3641 4128