FREEHOLD DEVELOPMENT OPPORTUNITY TO BUILD TWO 3 BEDROOM BUNGALOWS ALONG WITH GROUND RENTS INVESTMENT OF NINE FLATS PRODUCING £6,300 PA WITH FURTHER POTENTIAL

A Freehold Development opportunity to build two 3 bedroom bungalows along with the Freehold Interest of Randall Court which consists of 9 flats each sold off on 125 year leases from 2005 with 108 years remaining. Producing a ground rent of £700 per flat per annum, equating to a total of £6,300 per annum. Planning Ref: MC/20/1070 The plot could see a variety different schemes other than what has been approved STPP

Tenure

Freehold

LOCATION

Chatham is a town located within the Medway unitary authority. The town developed around Chatham Dockyard and several Army barracks, together with 19th-century forts which provided a defensive shield for the dockyard. The property is located less than a Mile to the South of Chatham Town Centre with its Pubs, Clubs, Bars and Restaurants as well as Shops and Chatham Mainline Railway Station with fast services to London Victoria Station.

SITE DETAILS

The plot measures approximately 10,000Sq Ft (935Sq M) and consists of a purpose built block of 9 flats all sold on Long Leases with car parking and a development area of approximately 4,000Sq Ft (375Sq M).

VIEWING

Strictly by appointment with the Auctioneer Tel: 01622 589 623

Local Authority

Medway Council

Additional Fees

Administration Charge - 0.6% inc VAT of the purchase price, subject to a minimum of £900 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.