A Freehold Ground Rent Investment and Roof Space Development Opportunity Offered with Planning Permission for the Construction of a Further 2 x Two Bedroom Flats All Secured Upon a Detached Building of Nineteen Flats (All Sold-Off on Long Leases) Currently Producing £6,775 Per Annum.

The property comprises a detached purpose built block of nineteen flats (4 x one bedroom, 11 x two bedrooms and 4 x three bedrooms) arranged over lower ground, ground and three upper floors.

Tenure

Freehold

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Hillside Gardens Park are within easy reach. Transport links are provided by Tulse Hill rail station.

Planning

Lambeth Borough Council granted the following planning permission (ref: 21/00343/FUL) on 9th March 2023: 'Erection of 2 x 2-bed units on roof of existing building, with provision for private amenity space, car and cycle parking, and refuse and recycling storage'.

Tenancy

The nineteen flats are all sold off on 150 year leases producing a combined ground rent of £6,775 per annum.

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 £1,500 inc VAT

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