Property Description

A Ground Rent Investment secured upon 7 x 1 bedroomed apartments and 5 x 2 bed apartments. Each lease has a review pattern of 21 years from 1 Sept 2039 to RPI. Total current income received £5,900 p.a

Each of the 12 apartments is held on a lease for a term of 250 years (less three days) from 30 August 2019. Each 1 bedroomed apartment is paying a ground rent of £450pa whilst each 2 bedroomed is paying a ground rent of £550pa. Total current rent received £5,900p.a.

Location:

Located just 8 minutes walk from Kennington Station and 15 minutes to Waterloo, Kennington is diverse and vibrant – an area with a distinct style characterised by open green spaces and smart Georgian and Victorian architecture. There’s a strong feeling of community spirit here, with an active residents’ association, local theatres and neighbourhood events throughout the year. Kennington retains the elusive small-town charm of an area that looks and feels lived in, but benefits from every convenience that living in a major metropolitan can offer

Leasehold:

Held on a long lease for a term of 250 years at a peppercorn ground rent.

Note:

The buyers fee for this lot is £1,200 inc VAT, this is only payable if you are the successful purchaser. There is no cost to participating in the sale.

Tenure

Leasehold