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Our Summary
- FOR SALE BY PUBLIC AUCTION ON THURSDAY, 30TH JULY 2026 AT 12
- BIDDING AVAILABLE BY TELEPHONE, PROXY AND ONLINE FREEHOLD GROUND RENT INVESTMENT: A FREEHOLD BUILDING CONTAINING 28 FLATS, A CARE HOME, PARKING SPACES AND A PARCEL OF LAND WITH PLANNING PERMISSION Freehold of a building containing a care home to the ground floor, 28 flats with parking, six further parking spaces allocated to three shops on the high street and a detached garage producing a ground rent income of £2,800 per annum
- There is also a plot of land that has planning permission for a detached dwelling, however, this land is allocated amenity land to the leaseholders
- For details on the planning permission please contact Castle Point Borough Council on using reference 22/0887/FUL We have been advised that the parcel of land with the planning permission granted is allocated as amenity land to the leaseholders
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Description
The property is a freehold ground rent investment consisting of a building with a care home on the ground floor, 28 flats, six parking spaces allotted to three shops on the high street, and a detached garage. The investment produces a ground rent income of £2,800 per annum. The building also includes a plot of land with planning permission for a detached dwelling.
The property is located near the High Street and town centre, and is subject to a 199 year lease from 1991. Each of the 28 flats pays a ground rent of £100 per annum and the care home pays a peppercorn rent of £1 per annum. A detached garage is also located in the car park.