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Ground Rents at Garway Court, 1 Matilda Gardens, London, Tower Hamlets, E3 2GR
Guide Price* : £75,000 plus
26x Residential Ground Rents
- Residential Ground Rent Investment
- Freehold
- Comprising 26x Ground Rents
- Producing £4,975 Per Annum
Description
The property comprises a 6 storey block of 26 purpose-built residential flats, with part concrete and brick elevation.
The opportunity comprises the sale of the ground rents on 41x residential flats which are held under the terms of a lease for a term of 130 years from 24 June 2004 at a rent of £4,975 per annum.
17x flats produce £200.00 per annum and 9x flats at £175.00 per annum.
Location
The property is located in Bow, a district in the London Borough of Tower Hamlets, approximately 5 miles (8 kilometres) from Central London. The location benefits from close proximity to the A12, which provides direct access to the North Circular to the north and the Blackwall Tunnel to the south, and the A11, which provides direct access to Central London via Aldgate to the south west. The properties are served by Bow Road Underground Station, located 0.4 miles (0.65 kilometres) to the north, which provides District and Hammersmith & City underground services. London City Airport is also conveniently located approximately 4 miles (6.5 kilometres) to the south east, providing both national and international flights.
The properties are situated within a predominantly residential area, with ancillary commercial primarily to support for the residential community.
Tenure
Freehold under Title Number EGL468400.
Bidder Registration
Registration for bidding will close at 2:00 pm the day before the auction, after which we cannot guarantee giving you permission to bid at the auction.
VAT
Refer to the legal documentation
Energy Performance Certificate
No EPC required
Contact
Joint auctioneers
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. 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 (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.
Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £1,800 inclusive of VAT on purchases of £20,000 and above and £600 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
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The successful purchaser will be required to pay the auctioneers administration fee of £1,800 inclusive of VAT on purchases of £20,000 and above and £600 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
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Legal Documents
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Additional Documents
Subject to Contract and Exclusive of VAT © Lambert Smith Hampton February 2025
Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including LSH Property Auctions, and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.
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