Ground Rent Investment – 43 Apartments & “Gazebo” - Currently Producing £14,300 pa

Freehold ground rent investment of 43 (mainly 2 bed) apartments plus converted “gazebo” (occupied as a dwelling) currently producing £14,300 pa (£325 per unit), last reviewed December 2018. The apartments are held on long term leases of 999 years from 1st January 1998. The lease states that the ground rent is to be calculated at one forty third of 0.266 percent of the price likely to be paid for the entire property on the open market. Please refer to the legal pack. The lease contains rent reviews every 10 years, the next review being December 2028. The last sale in the block achieved £153,000. A management company is in place and they are responsible for insuring the entire property. The property comprises of two main elements; a new build block of apartments and a converted period house together with communal grounds and parking.

Tenure

See Legal Pack

Energy Efficiency Rating (EPC)

Current Rating N/A

Local Authority

York City Council

Additional Fees

Administration Charge - 1.5% inc VAT of the purchase price, subject to a minimum of £1500 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.