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0 bed property

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For Sale

Listed May 13, 2024

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£350,000

Available

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01202 242000

By House and Son - Bournemouth

Description

" Planning Permission for ‘Penthouse Floor‘ 8 additional units GDV over £1.5 Million

45 Flats in two purpose built blocks

Current income of £3,185 p.a.

18 Flat Leases for a term of 125 years from 25 March 1977, currently paying a total ground rent of £1,110 p.a., increasing to £1,665 p.a. from 25 March 2052

5 Flat Leases for a term of 215 years from 25 March 1977 at a peppercorn ground rent

2 Flat Leases for a term of 150 years from 25 March 2015, at fixed rents of £150 p.a. i.e. a total of £300 p.a.

9 Flat Leases for a term of 150 years from 25 March 2015 at fixed peppercorn rents

11 Flat Leases for a term of 150 from 25 March 2015, currently paying £1,775 p.a. and increasing by £1,775 on 25 March 2040 and every 25 years thereafter

8 surface parking spaces, subject to short term rental agreements

Maintenance and Insurance is arranged by the Freeholder

Managing Agents are appointed

Section 5 Notices have not been served

Guide Price £125,000 for Ground Rent Investment, plus Offers invited in respect of Planning Permission "