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A freehold ground rent and garage investment comprising of 19 flats sold off on long lease and 14 of the 18 garages sold off on long lease. 4 of the garages remain in direct ownership and are directly let out on Licence agreements.
Please note that 1 of the Garages has been sold off on a leasehold interest and has an approx. 35 years remaining.
The property offers the opportunity to sell the garages or look to retain for investment purposes.
There is also development potential via demolition of the exiting garages for further development (subject to the requisite consents and buying back in the leasehold interest of the garages).
There is also Car parking income potential on the roadways.
Tenure
Freehold
Flat 1,3,4,6,7,8,9,11,12,13,14,16,17 on 189 year lease from 1962
Flat 2, let on a 999 year lease from 2024
Flat 5,7,10,15,19 let on a 999 year lease from 1962
Flat 18 let on a lease 999 years from 2017
The above flats are let on a peppercorn ground rent
14 of the garages have been sold off on a leasehold interest on a peppercorn rent (Please note that one of the garages has an approx. 35 years remaining)
Garage 2,3,7 and 13 are in the freeholders ownership
Accommodation
Comprising of 19 flats and 18 garages and associated parking and gardens
Tenancy
Garage 2
Garage 3
Garage 7
Garage 13
Total rent = £7,280 p.a.
Rent
Notes
Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.