FREEHOLD GROUND RENT INVESTMENT ON 12 FLATS, 11 WITH 81 YEARS UNEXPIRED
Guide price: £20,000 - £21,000 *
Thursday, 9th February 2017 11:00am
Location & Description
A pair of adjoining detached purpose-built blocks and parking spaces comprising 12 flats in the cul-de-sac section of Hewlett Road, off Marsh Road (B579) which has numerous multiple national retailers.
Luton is just to the east of junctions 10/10A of the M1 and is well known for its airport and the University of Bedfordshire.
The 12 flats are sold on long leases as follows:
11 for 99 years from 01.01.1999 at £50 p.a.- approximately 81 years unexpired.
1 for 189 years from 01.01.1999
EQUIVALENT TO £550 p.a WITH 11 FLATS HAVING ABOUT 81 YEARS UNEXPIRED
Sold for £51,000
There is an inconsistency with the numbering of the flats and the legal pack refers to this.
* 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.