E695 Whitley, Coventry CV3
A large site of Eighty Apartments spread across five detached blocks on a sizeable plot of land
The Eighty Two Bed Apartments are sold on varying Lease Terms:
THIRTY ONE with 63 YEARS at £1,550 per annum
TWO with 69 YEARS at £50 per annum
FOURTEEN with 89 YEARS at £350 per annum
Four on 189 year leases at £400 per annum
Twenty Nine with Statutory Lease Extensions at a peppercorn
A combined (rising) ground rent £2,350 per annum (19 rising by £800 in 3 to 4 years)
The Landlord Insures and Manages the development
Sum Insured: £13,219,308; Premium: £13,888.77; Renewal Date: 31st October 2021
A sizeable plot of land housing derelict garages for FURTHER RE-DEVELOPMENT
Each Leaseholder owns a garage but these have been designated as “ruins” by the Local Authority
The Leaseholders are in favour of re-development, as long as they are allocated a new parking space
The Landlord owns everything above the ceilings, below the floors and the building envelope and can develop as they see fit
The Lessees cannot alter their premises without the written consent of the Landlord
Section V Notices have not yet been served
Copy documents held electronically: Executed Lease; Insurance Summary of Cover; Title Plan
GUIDE PRICE £275,000
