A Freehold Residential Development and Ground Rent Investment Opportunity Comprising a Detached Block of Nine Flats (All Sold Off with an Annual Combined Ground Rent of Income of £1,000) Offered with Full Planning Permission for the Erection of an Additional Storey to Provide 2 x One Bedroom Flats and 1 x Two Bedroom Flat.
The property is situated on a residential road close to local shops and amenities. The open spaces of both The Knoll and West Wickham Common are also nearby. Transport links are provided by Hayes rail station which is a short walk away.
Nine flats arranged over three floors (all sold off on leases ranging between 88 years unexpired to 998 years unexpired with a combined ground rent of £1,000 per annum - refer to legal pack for more information)
The property benefits from communal gardens and off-street parking spaces.
Bromley Borough Council have granted the following planning permission (Ref: 18/03182/FULL1) on 11th October 2018: 'Construction of a third floor roof extension to the existing building to provide 3 residential units (2 x 1 bed and 1 x 2 bed).'
An additional floor to provide a further three flats (2 x 1 bed, 1 x 2 bed).
The sale will be by way of a company sale within an SPV (Special Purpose Vehicle) - please refer to the legal pack for more details.
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Administration Charge - Purchasers will be required to pay an administration fee of £1,200 inc VAT
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.