Sold for £16,000

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Freehold ground rent investment (with development potential) secured against an exclusive block of 3 x 2 bedroom and 2 x 1 bedroom apartments and a site of 1.46 acres producing £750 pa

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Description/Location

The property enjoys a panoramic outlook across Herefords Golden Valley, we believe the site offers potential for further development subject to planning. The apartments are held on leases for 125 years from 2007 & 2008 producing annual ground rent of £150 each, rising.

Tenure

Freehold

Local Authority

Herefordshire Council

Accommodation

Apartment 1: 2 bed / 2 bath. EPC - 103 sqm, C/79 Apartment 2: 2 bed, cellar. 96 sqm. Apartment 3: 2 bed / 2 bath. EPC - 130 sqm, D/56 Apartment 4: 1 bed, EPC - 115 sqm, D/59 Apartment 5: 1 bed, EPC - 80 sqm, D/66 Outside: Large site of 1.46 acres.

Rent

Ground Rent: £750 a 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.