About this property
Key Features
Ground rent yielding £450 p.a.
Investment opportunity
Description
A chance to purchase the Freehold of 29 Greenstead Road, representing a long term investment opportunity.
The property consists of an end of terrace 2 storey house that has been sub-divided into 3 independent flats, each of which have been sold to the existing owners on a long leasehold basis. This freehold purchase therefore offers the opportunity of collecting the ground rent, which is £450 per annum (£150 per annum per flat). It is understood that the Freeholder has no repair obligations or insuring obligations.
Note should be made that this is purely a freehold ground rent investment opportunity. No internal viewing of the property is permitted.
Tenure
Freehold subject to Long Leasehold Tenure
Location
Greenstead Road is a predominantly residential street less than half a mile from the main High Street, and within close proximity to Colchester’s Hythe train station.
Lot Type
Residential
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Gardener Leader Solicitors, Winbolt House, The Broadway, Thatcham, RG19 3HX Tel: 01635 293634 Ref: PS
Viewing
Cheffins Property Auction Dept 01223 213777 - External viewing only.
Important notes
*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. Each property will be offered subject to a Reserve price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set up to or within the Guide Range or no more than 10% above a single figure Guide. The reserve price will remain confidential between the seller and the auctioneer.
Fees: The guide price excludes any additional fees that the purchaser may incur, to include, but not limited to, Buyers Contract fee, Stamp Duty Land Tax, VAT, legal and search fees etc. Please refer to relevant Auction Legal Packs for details.�