LOT 63

1-4 Ipsley Croft Mason Road, Redditch, Worcestershire, B97 5DN

FREEHOLD GROUND RENT INVESTMENT 4 FLATS - 2 LEASES WITH LESS THAN 50 YEARS UNEXPIRED

Result: Available for £30,000 Guide price: £28,000 plus*

Auction Date

Thursday, 20th February 2020 12:00pm

A large detached purpose-built block comprising 4 self-contained flats and garages on the east side of Mason Road close to a few local shops in the Headless Cross district. Redditch with its shopping centre and mainline station is about 15 miles south of Birmingham and is easily reached from the M42 or M5.

Accommodation

1: 99 years from 29.09.1970 at £25 p.a.
Approximately 49½ unexpired

2: 99 years from 25.03.1969 at £25 p.a.
Approximately 48 years unexpired

3: Expires 13.08.2139 at £125 p.a. (doubling- see lease)

4: Expires 28.09.2109 at £100 p.a. (doubling- see lease)

EQUIVALENT TO £275 p.a WITH ONE LEASE HAVING 49½ YEARS UNEXPIRED & ONE WITH 48 YEARS UNEXPIRED

Note

Each flat also has a garage and we are advised by the seller that each of the flats comprise 2 bedrooms.

Status

Available for £30,000

Addendum

The lease for flat 2 is 99 years from 29.09.1970, so approximately 49½ years unexpired. Only 3 flats have garages - all at the rear.

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.