Lot 89

86-90 Mayes Road, Wood Green, N22 6SY

£25,500 Result

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Lot 89

86-90 Mayes Road, Wood Green, N22 6SY

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Legal documents

You are advised to download and read the legal documentation prior to bidding.

Agreement Documents

Additional Documents

Legal documents

You are advised to download and read the legal documentation prior to bidding.

Freehold Ground Rents and Vacant Parking Space

In Same Ownership for
Approximately 35 Years

Local Authority

London Borough of Haringey

Description

Located on Mayes Road, close to local shopping/travelling facilities including Wood Green Tube Station (Piccadilly Line) and Alexandra Palace Train Station. Alexandra Park is also nearby.

Freehold Ground Rents amounting to £300 per annum derived from Nine Self-Contained Flats each on a lease as follows:

Lower Ground Floor Flat 86(A). 999 years from 12th November 2024 at a peppercorn ground rent.

Ground Floor Flat 86(B). 189 years from 24th June 1986 at a peppercorn ground rent.

First, Second and Third Floor Flat 86(C). 125 years from 27th November 2019 at a ground rent of £150 per annum rising by £150 per annum every 25 years to £750 per annum in the final 25 years.

Lower Ground Floor Flat 88(A). 189 years from 1st August 2019 at a peppercorn ground rent.

Ground Floor Flat 88(B). 189 years from 26th June 1996 at a peppercorn ground rent.

First and Second Floor Flat 88(C). 171 years from 28th February 2006 at a peppercorn ground rent.

Lower Ground Floor Flat 90(A). 169 years from 28th June 2007 at a peppercorn ground rent.

Ground Floor Flat 90. 99 years from 11th November 1986 at a ground rent of £150 per annum rising. Valuable reversion in approximately 60 years.

First and Second Floor Flat 90. 189 years from 22th July 1986 at a peppercorn ground rent.

Vacant Off-Street Parking Space at Rear
from Caxton Road

In accordance with Section 5(B) of the Landlord and Tenant Act 1987 notices have been served on the lessees. The lessees have reserved their rights of first refusal.

Important Information

Additional Fees

Each successful bidder will be required to pay the Auctioneers McHugh & Co., a non-refundable buyer's fee of £1,500 inclusive of VAT. Lots sold for less than £10,000 the buyer’s fee will be £500 inclusive of VAT.
The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the special conditions of sale. Buyers are deemed to bid in full knowledge of this.

Viewing property

Each lot is sold in its actual condition and state of repair and the buyer shall be deemed to have surveyed and inspected the lot prior to the auction. For the avoidance of doubt, purchasers shall raise no objection or recourse to McHugh & Co as to the structure or condition of a property and its state of repair. McHugh & Co give no warranty or guarantee as to the structure, condition or issues of a property. This is in reference to (a) the state of the structure of any property or the working condition of any fixtures, fittings, heating systems, appliances or other items included in the sale of any property and (b) the type of the structure or whether such structure is adequate or property constructed. For purchasers requiring funding by mortgage or other means, they are advised to organise this in advance of the auction and shall raise no objection or recourse to McHugh & Co over whether a property is suitable for their lenders criteria.

Buying at auction

The successful bidder is under a Binding contract as soon as the Auctioneer's electronic gavel falls on his/her Bid. Upon a successful bid, the bidder’s card will be automatically debited for the bidder security amount, which is considered as a whole or contribution towards the deposit. The bidder security amount is non-refundable upon a successful bid. The bidder/purchaser will be required to pay the balance for the 10% deposit of the purchase price subject to a minimum deposit of £5,000 whichever is greater and buyers fee within 24 hours of the auction date. The completion date is set usually within 20 working days of the auction date. The timeframe for completion on individual lots may vary, please read the special conditions of sale within the legal documentation.

Guide price and Reserve price

Guides prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide. Guide prices will be continually updated on our website up until the day of the auction.

Legal Documents

Each purchaser shall be deemed to have read the legal documents or provided the legal documents to their legal representatives for advice on the lot they are intending on purchasing which has been made available on our website. The purchaser shall be deemed to have raised any enquiries with the vendors solicitors that a prudent purchaser would make. The purchaser is deemed to have read the special conditions of sale associated with the sale of the lot and bid in full knowledge of this and the legal documents prior to bidding.

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