Property for sale

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Property for sale

5 Flats - Freehold & Building Plot Station Road, Merstham, Redhill, Surrey, RH1 3EE
£475,000

Our Summary

  • Plus Building Plot for a Detached Bungalow
  • Ample parkingCommunal gardenAdjacent Building Plot with Planning Permission for a detached bungalow
  • Planning permission for a detached bungalow

Description

This freehold house has been converted into five self-contained flats, with three sold on long leases and two let on assured shorthold tenancies (ASTs). The property generates an annual income of £24,600 and comes with a detached building plot with planning permission for a detached bungalow. The flats vary in size and rent, with Flat 2 and Flat 3 worth over £400,000 and currently let for £23,500 per annum. The property also features ample parking, a communal garden, and a secure sale online bidding process. The flats' leases and ground rents are detailed, with Flat 1 having a 166-year lease, Flat 2 and Flat 5 having 125-year leases, and Flat 4 having a 172-year lease. The property is being sold as is, without the vendor having inspected it.