Property description
Housetree are delighted to bring to market this residential development for the freehold of the 40 complete apartment block and the 80 apartment block at slab level with underground car park built and all utilities installed.
The whole site extends to approximately 0.65 hectares (1.6 acres). Located within walking distance of the town centre and the university the site is divided into two sections. The Northern part of the site (1.08 acres approximately) currently benefits from a planning permission to provide 80No apartments and has partially been built to ground level with a full basement car park having been constructed. The balance of the site comprises a five storey residential block providing 40No units. All of the dwellings in the 40No block have been sold a currently each pay ground rent of £100 per annum creating an income of £4000 per annum to the freehold owner of the entire site.
The freehold of the site is available with all existing leases in place in respect of the complete block. It will be the responsibility of the purchasers to satisfy themselves to the suitability of the legal title for their proposals.
Planning permission was granted on 20 December 2005 for a total of 120 apartments in two blocks. As one of the blocks has been completed and the basement car park has been completed on the 80 unit block the planning permission will now last perpetuity.
More details are available on request.
Property Features :
- Residential Development
- More details available on request