Freehold Ground Rent Investment – 18 Apartments, Commercial Unit And 5 Car Spaces - Producing £1,200 pa

Freehold ground rent investment, comprising a four-storey semi-detached building providing 18 No. residential apartments and a basement/lower ground floor retail unit with two on site car parking spaces. The apartments and retail unit have been sold on 999-year leases from 1 January 2006 at a ground rent of £50 per annum. There are a further 5 car parking spaces positioned in a multi storey car park on New Bank Road which are sold on 99-year leases (less 2 days) from 29 April 1993 at a ground rent of £50 per annum’ Thus, the total income generated is £1,200 per annum. Four of the apartments are owned by the same Housing Authority. Location Kendal is a market town within the South Lakeland district of Cumbria approximately 40 miles south of Carlise and 23 miles north of Lancaster. The property is situated in a predominantly commercial area of Kendal town centre. Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding. Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars.

Tenure

See Legal Pack

Energy Efficiency Rating (EPC)

Current Rating n/a

Local Authority

South Lakeland District Council

Solicitors

Arthur Cox, Ref: Arthur Cox

Offered in association with

Sanderson Weatherall

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.