Garages 1-12, & Ground Rents On Flats 10-13 Southfield, Sutton Hill, Telford, Shropshire, TF7 4HP
Garages 1-12, & Ground Rents On Flats 10-13 Southfield, Sutton Hill, Telford, Shropshire, TF7 4HP
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.
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.
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
Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.
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.
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.
