3 bedroom commercial property for sale

Westminster Court, Lyndon Close, Handsworth, BIRMINGHAM, West Midlands

£225,000

Property Description

Full description

Tenure: Freehold

A REVERSIONARY INVESTMENT FOR SALE

WE ARE PLEASED TO OFFER THE FREEHOLD AND THREE FLATS IN THIS DETACHED BLOCK OF 16 FLATS IN TOTAL PROVIDING AN IDEAL INVESTMENT AND POTENTIAL DEVELOPMENT SITUATION.

Property ref: 121_2182_2885724


DETAILS 
The property is part vacant and stands in its own grounds and comprises of 16 flats, 11 of which are sold with a long lease, 2 with short leases and the remaining 3 which are owned by the existing freeholder AND ARE BEING OFFERED WITHIN THE SALE PRICE

DEVELOPMENT POTENTIAL 
There is development potential subject to the necessary planning consent.

It could be possible to add a timber frame to the roof of the building since it is of concrete construction. There could also be potential to utilise the basement by converting into living accommodation.

The property has 2 light wells which offers the opportunity of a 4 person lift being added to the structure allowing access to all floors including the additional roof construction

INVESTMENT POTENTIAL 
Of the 16 flats which comprise the block 11 are sold with approx 90 years unexpired on their lease, and 2 have 62 years unexpired on their leases.

The 3 remaining flats are vacant and included in the sale price

Current Ground Rent is £60 per annum per flat, rising to £90 per annum in 2028. Service Charge is currently £18,588.60 per annum for the block.

Garden 
Communal Garden

More information from this agent

Nearest stations

  • Perry Barr (0.4 mi)
  • Witton (1.2 mi)
  • Hamstead (1.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Duncan Phillips Ltd, Waltham Abbey

19 Sun Street, Waltham Abbey, EN9 1ER

01992 847348 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Perry Barr (0.4 mi)
  • Witton (1.2 mi)
  • Hamstead (1.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Duncan Phillips Ltd, Waltham Abbey

19 Sun Street, Waltham Abbey, EN9 1ER

01992 847348 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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