A Freehold Investment Comprising Twelve Single Storey Lock-Up Garages (One is Sold Off) and Ground Rents Secured Upon Four Flats (Sold Off). All Eleven Included Garages are Let and the Four Flats Generate a Ground Rent Producing a Combined Income of £6,638 per annum (Including the Sept 2023 Rent Increases).

The property comprises twelve single storey lock-up garages (one is sold off) and a freehold ground rent on four flats (sold off). The garages front the main road and extend to circa 5,000 sq ft in total.

Location

The properties are situated on a residential road in the Sutton Hill area of Telford close to local shops and amenities. The open spaces of Telford Hotel Golf Resort are within easy reach. Transport links are provided by the M54 motorway which is easily accessible.

Tenancy

Garage 1. £50 pcm commenced 17th July Garage 2 £50 pcm commenced 14th July Garage 3 £8.53 per week. Up to £50 pcm 17th Sept Garage 4 is sold off with Flat 11 Garage 5 £50 pcm commenced 14th July Garage 6 £10.24 per week. Up to £50 pcm 11th Sept Garage 7 £10.24 per week. Up to £50 pcm 17th September Garage 8 £10.24 per week. Up to £50 pcm 4th September Garage 9 £50 pcm commenced 26th July Garage 10 £46.50 pcm. Up to £50 pcm 17th September Garage 11 Rent up to £50 pcm on 17/9/23 Garage 12 Rent up to £11.50 per week 4/9/23. Flats 10,11,12,13 are sold off on on long leases at a ground rent of £10 per annum each. Total Income £6,638 per annum (from Sept onwards)

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,800 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.