This property has been taken off the market.
2 Bed Block Of Apartments House For Sale St. Marys Road, Ilford, IG1
£300,000- Block Of Apartments
Auction Property
1 of 15
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We appreciate the listed price showing isn’t necessarily the price you would buy this property for, as it is in auction. However, we hope some confidence can be gained from our system successfully being able to identify this as potentially below market value.
Last Updated: 30th June 2024
Description
** For sale by public auction on 6th June at 12:00 **\r
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Location & Description\r
Comprising three self-contained flats about mile from Seven Kings station (mainline and Elizabeth line), giving access to Liverpool Street and Heathrow Airport. \r
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Accommodation\r
Whilst Strettons have not internally inspected the property, we understand that the accommodation comprises the following: \r
Flat B: Open plan lounge/ kitchen, bedroom and bathroom with toilet.\r
Flat C: Studio flat and bathroom with toilet.\r
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Tenancy Details\r
Both properties are let on a 12 month Assured Shorthold Tenancy.\r
Flat A sold off on a 99 Year lease from 25 June 2006 at a rent of £300 p.a.\r
Flat B, from 13th April 2023 (holding over) at £1,200 per calendar month.\r
Flat C, from 5th April 2023 (holding over) at £995 per calendar month.\r
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Note\r
The seller advises that this is structured for sale as a company entity. The company (Greater London Investments Ltd) will become the property of the new owners by way of share transfer and this property is the only asset the company owns. \r
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The property on its own is not being sold but rather the company is being sold as going concern with the shares being transferred to the successful bidder and he/she being appointed as directors with the current directors and persons of significant control resigning. \r
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This provides a streamlined acquisition process with significant financial benefits for the prospective buyer. Acquiring the properties through a Special Purpose Vehicle (SPV) can lead to savings on stamp duty.\r
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1. The photos have been provided by the seller and were taken before the tenants moved in to the properties.\r
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Auction Surveyor: Michael Mercer\r
Contact: michael. \r
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EQUIVALENT TO £26,640 p.a.\r
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EPC Rating\r
Flat B = C Flat C = C\r
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Viewing Times
\r
Location & Description\r
Comprising three self-contained flats about mile from Seven Kings station (mainline and Elizabeth line), giving access to Liverpool Street and Heathrow Airport. \r
\r
Accommodation\r
Whilst Strettons have not internally inspected the property, we understand that the accommodation comprises the following: \r
Flat B: Open plan lounge/ kitchen, bedroom and bathroom with toilet.\r
Flat C: Studio flat and bathroom with toilet.\r
\r
Tenancy Details\r
Both properties are let on a 12 month Assured Shorthold Tenancy.\r
Flat A sold off on a 99 Year lease from 25 June 2006 at a rent of £300 p.a.\r
Flat B, from 13th April 2023 (holding over) at £1,200 per calendar month.\r
Flat C, from 5th April 2023 (holding over) at £995 per calendar month.\r
\r
Note\r
The seller advises that this is structured for sale as a company entity. The company (Greater London Investments Ltd) will become the property of the new owners by way of share transfer and this property is the only asset the company owns. \r
\r
The property on its own is not being sold but rather the company is being sold as going concern with the shares being transferred to the successful bidder and he/she being appointed as directors with the current directors and persons of significant control resigning. \r
\r
This provides a streamlined acquisition process with significant financial benefits for the prospective buyer. Acquiring the properties through a Special Purpose Vehicle (SPV) can lead to savings on stamp duty.\r
\r
1. The photos have been provided by the seller and were taken before the tenants moved in to the properties.\r
\r
Auction Surveyor: Michael Mercer\r
Contact: michael. \r
\r
EQUIVALENT TO £26,640 p.a.\r
\r
EPC Rating\r
Flat B = C Flat C = C\r
\r
Viewing Times
Agent Details
Strettons Auctions
Waltham House, 11 Kirkdale Road, London, E11 1HP
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Legal - YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.