- Auction sale
- 27 july 2022
- Epc rating - awaited
Lumsden Mansions forms part of 3 available freehold investments located on the main Shirley High Street and superbly positioned for access to all the local amenities. This rare opportunity is prime for residential letting and potential sales on the owned apartments included with the freehold.
A freehold investment opportunity to include 13 x 1 bedroom apartments producing £77,800 PA. In addition, ground rents are collectable from 20 flats that are still on the original 125 year leases dated from 29/09/1971 and would now be considered short for current mortgage lending.
Typical Accommodation Layout – 13 x 1 Bedroom Apartments
Entrance Vestibule, Lounge with access to Balcony, Inner Hallway, Kitchen, Bathroom, Double Bedroom.
The 13 x 1 bedroom apartments included in the sale are let on AST agreements currently producing £77,800 PA. The current rents are considered below market value and can be improved greatly with improvements to the properties.
This investment opportunity forms part of a larger group of freeholds being offered to professional investment buyers. The freehold title will also allow for potential income on the enfranchisement of the remaining 24 flats which still have original 125 year leases dated from 29/09/1971.
C to F (Various)
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* Terms and Conditions apply.
LENDER FEES MAY ALSO BE APPLICABLE. IF YOU WOULD LIKE GUIDANCE ON THE RIGHT MORTGAGE FOR YOU, WE RECOMMEND SPEAKING TO ONE OF OUR MORTGAGE CONSULTANTS WHO WILL BE MORE THAN HAPPY TO HELP.
**THE 2.072% ANNUAL INTEREST RATE IS BASED ON THE CONNELLS GROUP AVERAGE MORTGAGE INTEREST RATE TAKEN IN, CORRECT AT JANUARY 2022.
A BROKER FEE MAY BE PAYABLE UPON MORTGAGE APPLICATION AS WELL AS AN ADMINISTRATION FEE. THE TOTAL FEE PAYABLE WILL DEPEND ON YOUR CIRCUMSTANCES. YOUR MORTGAGE CONSULTANT WILL EXPLAIN ANY FEES APPLICABLE IN YOUR INITIAL APPOINTMENT.
ALL MORTGAGES ARE SUBJECT TO STATUS AND LENDER CRITERIA. MOST BUY TO LET MORTGAGES ARE NOT REGULATED.