CALLING ALL INVESTORS-A rare opportunity to acquire a Freehold Reversionary interest in a block of flats in Grimsby, offering an attractive investment proposition. This property features multiple flats, leased to long-term leaseholders. Originally, all leases were of the same length, commencing on 6th April 1986 with ground rent doubling every 33 years, starting at £50 annually for the first 33-year period, increasing to £100 for the subsequent 33 year term, and increasing tot £100 for the final 33 years. The buyer stands to benefit from ongoing ground rent income and potential future profits through lease extension transactions. Noteworthy is that some lessees have already extended their leases to 189 years at a peppercorn rent. While some flats now have extended leases, a dozen units still remain on the residual 99-year terms. Situated in an established location, this property is surrounded by useful amenities and excellent transport links. Don't miss this exclusive investment opportunity. Contact us for more details.
Schedule Of Leases Flat 1 – lease 99 years from 6.4.1986; Ground rent: £50 for first 33 years, £100 from 6.4.2020 and £200 from 6.4.2053
Flat 2 – lease 189 years from 6.4.1986; ground rent reduced to a nil/peppercorn
Flat 3 – lease 189 years from 6.4.1986; ground rent reduced to a nil/peppercorn
Flat 4 – lease 189 years from 6.4.1986; ground rent reduced to a nil/peppercorn
Flat 5 – lease 99 years from 6.4.1986; ground rent: £50 for first 33 years, £100 from 6.4.2020 and £200 from 6.4.2053
Flat 6 – lease 189 years from 6.4.1986; ground rent reduced to a nil/peppercorn
Flat 7 - lease 99 years from 6.4.1986; ground rent: £50 for first 33 years, £100 from 6.4.2020 and £200 from 6.4.2053
Flat 8 - lease 99 years from 6.4.1986; ground rent: £50 for first 33 years, £100 from 6.4.2020 and £200 from 6.4.2053
Flat 9 - lease 99 years from 6.4.1986; ground rent: £50 for first 33 years, £100 from 6.4.2020 and £200 from 6.4.2053
Flat 10 - lease 99 years from 6.4.1986; ground rent: £50 for first 33 years, £100 from 6.4.2020 and £200 from 6.4.2053
Flat 11 - lease 99 years from 6.4.1986; ground rent: £50 for first 33 years, £100 from 6.4.2020 and £200 from 6.4.2053
Flat 12 - lease 99 years from 6.4.1986; ground rent: £50 for first 33 years, £100 from 6.4.2020 and £200 from 6.4.2053
Flat 13 – lease 189 years from 6.4.1986; ground rent reduced to a nil/peppercorn
Flat 14 – lease will be extended prior to sale of portfolio
Flat 15 – lease 189 years from 6.4.1986; ground rent reduced to a nil/peppercorn
Flat 16 – lease 189 years from 6.4.1986; ground rent reduced to a nil/peppercorn
Flat 17 - lease 99 years from 6.4.1986; ground rent: £50 for first 33 years, £100 from 6.4.2020 and £200 from 6.4.2053
Flat 18 - lease 99 years from 6.4.1986; ground rent: £50 for first 33 years, £100 from 6.4.2020 and £200 from 6.4.2053
Flat 19 - lease 99 years from 6.4.1986; ground rent: £50 for first 33 years, £100 from 6.4.2020 and £200 from 6.4.2053
Flat 20 - lease 99 years from 6.4.1986; ground rent: £50 for first 33 years, £100 from 6.4.2020 and £200 from 6.4.2053
Property Management Are you a Landlord tired of dealing with your tenants?….Jackson, Green and Preston can provide a comprehensive management service and will be delighted to discuss your management needs. Please do not hesitate to contact our Property Management Department on Grimsby 311116 or by e-mail (rented@jacksongreenpreston.co.uk) for some informal advice. Further information is also available on our website at www.jacksongreenpreston.co.uk/info_landlords.php
Property To Sell Do you have a property to sell? For professional valuation advice, contact our Grimsby Office (01472 311120).
One of our experienced valuers will be happy to provide a free marketing appraisal of your property.
Surveys Should you decide to buy a property not available for sale through our Agency, Jackson Green and Preston offer a range of independent valuations and surveys all carried out by fully qualified Chartered Surveyors.
To discuss your survey needs, please contact our Survey Department on 01472 311120.
Sources Of Useful Information Purchasers may find the following websites useful in providing additional information in respect of the property and the immediate surrounding area.
www.environmentagency.gov.uk
www.hpa.org.uk
www.nelincs.gov.uk
www.northlincs.gov.uk
www.e-lindsey.gov.uk
www.landregistry.gov.uk
www.gov.uk/council-tax-bands
Mortgage Advice We are pleased to be able to introduce Toni Cressey Mortgage Advisers who we recommend for Independent Mortgage Advice for any of our clients looking to purchase their first home, new home or investment property.
They have a team of advisers that are able to help and advise you on the most suitable mortgages available for you taking into account your own particular needs and circumstances. They will help and guide you through the whole mortgage and home buying process, ensuring best advice is given at all times. Buying a new home is one of the most important financial decisions you will make so it is vital that you get the help and advice you need at the earliest opportunity.
No fee is charged for this independent mortgage advice, which is provided under no obligation. There may however be a fee payable should you proceed with a mortgage application. The actual amount you pay will depend upon your own circumstances and requirements and typically our application fee will be £100 upto a maximum of £250 for a residential mortgage. Any fee will be confirmed in writing prior to your proceeding with a mortgage application.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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This is a Freehold property.
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