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Holly Lodge, 8 St Andrews Road, Bedford, MK40

Investment, Land/Development, Other
185 - 1,110 SqFt (17.19 - 103.12 SqM)
£155,000 Offers in the region of

Holly Lodge, 8 St Andrews Road, MK40 2LJ

Description

Freehold for sale of a substantial detached Victorian premises converted in to 12 separate apartments with a block of 6 garages to the rear.

All 12 apartments are subject to long leasehold interests. 5 have been extended to 164 years from 1990. The remaining 7 flats have 99 years from 1990.

11 flats pay £150 per annum ground rent to the freeholder. The other flat pays a peppercorn ground rent.

With 7 long leaseholders having 69 years left to run on their leases, the investments offers future income potential by way of a premium payable to the freeholder on request for a renewal from the long leaseholders (subject to negotiation).

The garage block is situated to the rear of the plot and is accessed via a shared drive form St Andrews road.

Each garage benefits from lockable up and over doors and can be rented separately by the freeholder as a further source of income.

The garage block also offers development potential (subject to planning).

Location

Located in Bedford, Bedfordshire

Nathan George
BSc (hons) MRICS

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