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Lot - Flats 1 - 4 Lucas Court, Romeland, Elstree, Borehamwood, Hertfordshire, WD6 3GA

Guide Price* £650,000

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Property Type
Block of Apartments
Tenure
Freehold
Type
Residential
Bedrooms
4
Bidder Security Deposit
£3,500*

Property Summary

  • On the instructions of the Joint Fixed Charge Receivers
  • Freehold residential investment
  • Arranged as 4 x one bedroom flats
  • Producing £42,600 per annum (plus one vacant flat)
  • ERV £63,600 per annum

Freehold building arranged as four self-contained one bedroom flats. Investment producing £42,600 per annum (plus one vacant flat).

Description

The property comprises a purpose-built block of flats of traditional brick construction with rendered white painted elevations set beneath a pitched tiled roof. Flats 1, 3 and 4 are accessed via a shared staircase/entrance, whilst Flat 2 has its own front entrance and access to a garden to the rear. The flats are all one bedroom self-contained units and each flat has its own car parking space.

Location

Elstree is famous for its history in the film and television industry and is located 11 miles north of central London, 5 miles east of Watford, 3 miles south of Radlett and 5 miles west of Barnet just to the north of Edgware Way at the intersection with the M1 motorway (Junction 4). There are regular trains from Elstree & Borehamwood station to London (St Pancras) with a fastest journey time of 23 minutes.

The property is situated close to the town centre, Romeland runs westwards from High Street in this mixed use area.

Accommodation

Address Unit Sq.M Sq.Ft Tenant Tenancy Rent(£ pa)
Flats 1-4, Lucas Ct 1 50.15 539 Vacant (1)
2 42.00 452 Couple Assured Periodic £16,200
3 47.00 506 Couple Assured Periodic £15,600
4 39.00 420 Individual Assured Periodic £10,800
Total £42,600
(1) We have been advised that the ERV for Flat 1 is £1,325 pcm. The other units could be reviewed at a similar level at the appropriate time

Planning

Local Authority – Hertsmere Borough Council (0300 123 4044) www.hertsmere.gov.uk

EPC Rating

Flat 1 - D
Flat 2 - C
Flat 3 - D
Flat 4 - C

VAT

VAT is not payable

Disclaimer*

* Guide Prices are provided as an indication of each seller's minimum expectation (also known as the 'Reserve Price'). They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve Price (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 Price.

The Guide Price for the Lot does not include the Buyers Administration Fee of £2,400 (inclusive of VAT). In addition, the Guide Price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.

To participate in the sale, SW Property Auctions must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £5,900 comprises £3,500 relating to your bidder security (partial deposit payment) and the buyers administration fee of £2,400 (inc. VAT).

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