Lot
064
Auction: March 2021 Online Auction 24/03/2021

Garages 1-12, & Ground Rents On Flats 10-13 Southfield, Sutton Hill, Telford, Shropshire TF7 4HP

Property Details
Location
Auction Details
Description
A freehold investment site comprising 11 lock up garages and the freehold ground rents on 1 garage and flats 10-13 Southfield. 8 of the garages are let at a combined rent of approximately £4170.60 per annum whilst flats 10-13 are sold off on long leases producing a combined annual rent of £40. The total income for the site is approximately £4,210 with further potential to increase with income off the 3 vacant garages.
Location
The site is situated in an established residential location accessed off Sutton Way and close to local amenities and facilities. Telford Town Centre is located 5 miles to the north.
Tenure
Unknown
Tenancy
Garage 1 - vacant
Garage 2 - vacant
Garage 3 - let at £36.96pcm
Garage 4 - sold off as part of flat 11
Garage 5 - let at £44.37pcm but no rent received since before Nov 18 and arrears assigned to the buyer
Garage 6 - let at £44.37pcm
Garage 7 - let at £44.37pcm
Garage 8 - let at £44.37pcm
Garage 9 - vacant
Garage 10 - let at £44.37pcm
Garage 11 - let at £44.37pcm
Garage 12 - let at £10.24 p/wk
Costs
Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.
General
1. All the information provided on our website is for indicative purposes only and interested parties should rely upon the contents of the legal pack and their own due diligence as a prudent bidder.

2. PLEASE NOTE BIDDING COMMENCES ON TUESDAY 23RD MARCH AND CLOSES ON WEDNESDAY 24TH MARCH.
Addendum
8 of the garages are currently let and 3 are vacant vacant. We understand no rent has been collected on 1 of the garages since before November 2018. Interested partiesa re advised to consult with the tenancy schedule within the legal pack for further clarification. Pugh & Co have not seen sight of the lease relating to flat 13 Southfield but are advised that the ground rent is £10p/a, the same level as flats 10, 11 & 12.

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