Sold £21,000
- Mixed Use
- 2 Bedrooms
- Tenure: Freehold
Call the team on 01603 505 100 for more information
Ground rent investment comprising of two shops and two flats. Income currently £1,010 pa
Two lock up shops and two flats in a central city location producing a ground rent income of £1,010. The two shops have 125 year leases from 1989 both with outstanding rent reviews. The flats also have 125 year leases from 1995 and 1996 with reviews due in 2039. The flats and shop fronting St. Benedicts can be accessed from a common hall and staircase whilst the rear shop can also be approached via Westwick Street.
Tenure
Freehold
Accommodation
7 St. Benedicts: Lock up shop 125 yr lease from 31.3.89. GR £410. Review due 31.03.19 (91 years remaining) 7a St. Benedicts: Lock up shop 125 yr lease from 1.11.89 GR £300. Review was due 31.10.19 91 years remaining) Flat 1, 7 St Benedicts: 1 bed first floor flat 125 yr lease from 15.09.95 GR £150. Review 31.03.29 (97 years remaining) Flat 2, 7 St Benedicts: 1 bed second floor flat 125 yr lease from 15.09.95 GR £150. Review 31.03.29 (97 years remaining)
Note
The freeholder is responsible for the management and insurance of the building, which is recovered from the lessees by way of a service charge.
Energy Efficiency Rating (EPC)
Current Rating D
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Local Authority
Norwich City Council
Solicitors
Isadore Goldman, Ref: Robert Pyke, Tel: 01603 611370
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Buyer's Premium - £420 inc VAT payable on exchange of contracts.
Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Disclaimer: The map preview provided above is for general guidance only and may not accurately reflect the exact location or surrounding buildings. Prospective buyers and interested parties are strongly advised to independently verify the precise location and surroundings before bidding.
