Property Description

Interested parties should contact Knight Frank Auctions for further information.A freehold unbroken residential investment containing 48 units and 17 car parking spaces producing £406,968 per annum.The property comprises 48 apartments arranged over ground to third floors. In total there are 7 x one bedroom, 40 x two bedroom and 1 x 3 bedroom. A lift is available to all floors. Externally there are 17 car parking spaces. The apartments are producing £398,568p.a. The car parking spaces are producing £8,400 p.a. with three spaces vacant. The total rents reserved is therefore £406,968 p.a.

Please note that the Post Office has been sold off on a 999 year lease at a peppercorn rent.Location The property is located in the town centre of Redditch just to the east of the Kingfisher Shopping Centre. The immediate surrounding area is a mix of retail and education including a range of restaurants and cafes. Redditch Train Station is 0.3 miles to the west and provides services to Birmingham New Street in approximately 40 minutes with junction 2 of the M42 approximately 5 miles to the north.Note The buyers fee on this lot is £2,400 inc VATTenure: FreeholdEPC Rating: 27 x B, 18 x C, 3 x D