Property details

Westminster Court, Lyndon Close

BIRMINGHAM

£225,000

3 bedrooms | 0 bathrooms | 0 receptions

For Sale

EPC Rating:

F



Summary Description

A REVERSIONARY INVESTMENT FOR SALE

WE ARE PLEASED TO OFFER THE FREEHOLD AND THREE FLATS IN THIS DETACHED BLOCK OF 16 FLATS IN TOTAL PROVIDING AN IDEAL INVESTMENT AND POTENTIAL DEVELOPMENT SITUATION.

DETAILS

The property is part vacant and stands in its own grounds and comprises of 16 flats, 11 of which are sold with a long lease, 2 with short leases and the remaining 3 which are owned by the existing freeholder AND ARE BEING OFFERED WITHIN THE SALE PRICE

DEVELOPMENT POTENTIAL

There is development potential subject to the necessary planning consent.

It could be possible to add a timber frame to the roof of the building since it is of concrete construction. There could also be potential to utilise the basement by converting into living accommodation.

The property has 2 light wells which offers the opportunity of a 4 person lift being added to the structure allowing access to all floors including the additional roof construction

INVESTMENT POTENTIAL

Of the 16 flats which comprise the block 11 are sold with approx 90 years unexpired on their lease, and 2 have 62 years unexpired on their leases.

The 3 remaining flats are vacant and included in the sale price

Current Ground Rent is £100 per annum per flat, Service Charge is currently £1,065 per annum.

Garden

Communal Garden