Description

24 flats within a block converted 5 years ago:

11 flats are sold long leasehold, 13 are let on AST’s.

The 13 flats which are let are 1 bedroomed excepting flat 11 which has two bedrooms. Kitchens and bathrooms and fully fitted and the flats have slim line electric heaters with individual controls. Each floor is serviced by a passenger lift. Each flat has a reserved car park space within the rear gated and secure car park.   

The freehold interest is being sold, subject to existing tenancies. Each flat already sold on a long leasehold basis is on 125 year lease at a ground rent of £250 per annum with rent reviews.

The total income from the AST lettings is £11,015 per month (£132,180 per annum). The income from the 11 flats already sold on a long leasehold basis is £2,750 per annum.

Offers are invited in the region of £1,750,000 for the freehold interest. Individual sales of the flats let on ASTs will also be considered.

Ref: BSimpson

Important information

The property is being marketed for sale by Nigel Nutting and Neil Mather in their capacity as Joint Fixed Charge Receivers (“the Receivers”) of Valentine Homes and Construction and Zinzan Brooke (“the Property”).  The Receivers were appointed on 04 August 2011 and act as agents of the mortgagor of the Property and contract without personal liability.

Disclaimer

Please note that interested parties will need to rely on their own enquiries and investigations  in relation to the Property as the Receivers are unable to make any representations or give any warranty (express or implied) as to the accuracy or completeness of the information provided.  Interested parties should obtain independent professional advice.   The information provided above does not constitute property particulars.