1-4 Ipsley Croft Mason Road, Redditch, Worcestershire, B97 5DN
FREEHOLD GROUND RENT INVESTMENT 4 FLATS - 2 LEASES WITH LESS THAN 50 YEARS UNEXPIRED
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.
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
Each flat also has a garage and we are advised by the seller that each of the flats comprise 2 bedrooms.
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.