Purchase of freehold

[David Snowdon]

Hi Everyone,

 

I read about the meeting last Saturday which I'm sorry I couldn't make.

 

I'd appreciate a quick note on any conclusions which were reached.

 

Many thanks,

 

David Snowdon (flat 3 22 Wheler st)

 

PS Since I shall be away from tomorrow until March 14th I'll email the vendor's solicitor to notify him of my interest in purchasing a share of the freehold.

 

PPS Does anyone have any idea of whether the sum requested (£88,800) is reasonable? 

[Collingwood, Andrew]

Hello David,

 

I think we’re still in data gathering phase; Nick and I knocked on doors, those that were answered were interested – but several “Not at Home” which will be followed up; together with the telephone numbers of some landlords that we were able to obtain.

 

Please bear with us…..

 

Andrew

 

Andrew Collingwood

Training Academy Manager

CWI Group

 

Mobile:    +44 (0) 7717 836292 Fax:         +44 (0) 20 8243 4242 www.cwig.com

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[David Snowdon]

Many thanks, Andrew.
 
Best wishes,
 
David
 

---

From: Andrew.Co...@CWIG.COM
To: whel...@googlegroups.com
Date: Tue, 23 Feb 2010 16:52:32 +0000
Subject: RE: Purchase of freehold

[Piers Kotting]

Our solicitor (we're selling) seems to think £88 800 is about right.

[Nick Brett]

Got a few letting agents calling back today with info on owners - will update all the info as soon as I here from them!

Nick

M: 07932 722 068

[Sam Faulkner]

£88,800 isn't a bad price, based on a quick calculation of the return.

There are 24 flats paying £200 each per annum in ground rent (only ground rent is relevant, not service charge).

So the annual income is £4800 which is a 5.4% return on the investment. Not too bad when you compare it to what you are getting from the banks at the moment. It is also low risk. 

Best wishes

Sam

www.samfaulkner.co.uk

+44 (0)7973 883 690

[Piers Kotting]

I don't suppose anyone has bought their flat in the last 5 years and has proper accounts from Sean et al? Our buyer's solicitors seem to think it is all done a bit on the back of a fag packet and don't show how much the accout is in credit etc etc. Did anyone have this problem when buying?

Thanks,

Antonia

[Collingwood, Andrew]

Hi,

 

I pulled audited accounts from Company House last year; I will dig these out and distribute; it’s not clear whether Starchain has other properties in these accounts; certainly a fairly large fee was drawn by by Startchain!

 

Andrew

 

Andrew Collingwood

Training Academy Manager

CWI Group

 

Mobile:    +44 (0) 7717 836292 Fax:         +44 (0) 20 8243 4242 www.cwig.com

 

 

[Nick Brett]

I bought around 3 years ago - let me have a dig through my paperwork tonight.

Nick (Flat 7, 22)

M: 07932 722 068

[Piers Kotting]

That would be extremely useful - thank you!