Ground Rent Investment – Block of 10 Modern Apartments - Currently Producing £3,250 pa

Freehold ground rent investment of 10 no. 2 bed apartments currently producing £3,250 pa (£325 per unit), last reviewed December 2019. Externally each apartment has a designated on site parking space and there are communal grounds.. The apartments are held on long term leases of 999 years from 1st January 1999. The lease states that the ground rent is to be calculated at 0.21% 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 January 2029. A management company is in place and they are responsible for insuring the entire property. The property comprises an attractive purpose built three storey apartment block constructed in the late 1990’s situated just off Fulford Main Street. Fulford is an attractive and popular suburb located to the south of York City Centre.

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.