Land for sale in Castelnau, London SW13

Description

Freehold Reversionary Ground Rent Investment Opportunity.

A rare opportunity to acquire a reversionary freehold ground rent investment in a highly sought after West London location. The building consists of four self-contained flats internally all of which are subject to long leasehold interests, summarised below:-

1. Flat A - First & Second Floor Flat (1807sq.ft.) subject to a lease term of 99 years commencing 25th March 1970 at a fixed ground rent of £50 per annum. Unexpired term of approximately 45 years remaining. Unimproved fhvp circa £1,000,000

2. Flat B - Lower Ground Flat (797sq.ft.) subject to a lease term of 99 years commencing 18th February 1997 subject to rising ground rents. Passing rent of £75 per annum rising to £225. Unexpired term of approximately 72 years remaining. Unimproved fhvp circa £725,000

3. Flat C & D are subject to extended leases of 135 years (unexpired) at a peppercorn ground rent.

There may be long term potential to acquire the individual flats and reinstate/redevelop the building into a high value family residence as precedented in other buildings in this road. There is also of course potential to generate significant lease renewal premiums from Flats A & B.

Further details, including title documentation, floor areas, floor plans etc are available on request.

Any sale agreed will be subject to offering rights of first refusal to the qualifying lessees under Section 5A of the Landlord & Tenant Act 1987.

Tenure
Freehold subject to the associated long leases.
Guide Price: £160,000

Please call Blakes Chartered Surveyors on for further information.