Sold after auction for an undisclosed amount

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Freehold ground rent investment secured against 4 x 2 bedroom flats (3 with garages), 2 with lease terms of 49 years unexpired

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Description/Location

A 2 storey detached purpose-built block occupying a corner site and comprising 4 flats and 3 garages on the east side of Mason Road close to local shops in the Headless Cross area. Redditch town centre and mainline station to the north.

Tenure

Freehold

Office Contact

Please contact Elliott Network Auctions on 01923 240420

Accommodation

Flat 1 99 years from 29.09.1970, £25 pa Flat 2 99 years from 29/09/1970, £25 pa Flat 3 Expires 28/09/2139, £125 pa rising Flat 4 Expires 28/09/2109, £100 pa rising

Rent

Ground Rent: £275 pa rising

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.