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Land for sale
Coundon Road, COVENTRY
£3,000
Coundon Road, COVENTRY
£3,000
Our Summary
- SUMMARYAUCTION SALE 17 December 2024 - Freehold Ground Rent InvestmentSix Flats – Two with Reversions in 81 yearsGround Rents Reserved £600 per annum
Description
This is a freehold ground rent investment property, comprising a three-floor mid-terrace building converted into six self-contained flats. Each flat is sold on a 99-year lease, with four flats having lease terms starting from 2021 and two from 2006, with reversions in 81 years. The property generates a total ground rent of £600 per annum. The leaseholders have not reserved their rights under Section 5 of the Landlord and Tenant Act 1987, and notices have been served to confirm this. The property is being sold at auction, with a guide price quoted, and buyers are expected to pay a contract documentation fee of £1,500 (inclusive of VAT) in addition to any additional fees payable upon completion.