* Two residential blocks for sale
* 243 year long leaseholds
* Reversionary rents
Investment opportunity in Aldridge, in the Walsall Borough, Walsall Boroughs
second largest town.
A new sub - long leasehold at a peppercorn ground rent, to expire in 2266.
Comprises two blocks of 12 apartments situated above commercial units. 10
currently let on ASTs with 2 vacant.
Currently producing an income of £76, 740 per annum with an erv of £97, 240 per
annum.
Break up potential.
Commuter town.
Offers in the region of £1, 250, 000 (one million, two hundred and fifty
thousand pounds pounds) are invited for the long leasehold interest.
The purchase price represents a low capital value of £153. 94 per sq ft as a
blended rate, which is less than replacement cost.
The purchaser may qualify for multi - unit relief on stamp duty. They should
rely on their own enquiries in this regard.
Location
The flats are located in Aldridge, in the Walsall Borough, West Midlands. The
area is approximately 5 miles from Walsall and is the second largest town in
the Walsall Borough.
The flats are positioned within and surrounding the shopping centre, which has
a host of brands including: Greggs, Boots, Papa Johns, wh Smith, Colosus Gym,
Iceland, Oxfam, Costa Coffee, Card Factory and many more.
The local area benfits from a weatlh of local amenities nearby including
Anchor Meadows, Aldridge Airport (recreation only), Druids Health Golf Club,
Duids Heath and Fairlawns Hotel and Spa are all situated in the surrounding
area.
Description
The flats at Rookery Lane are situated above the shops on the northern section
of the main courtyard of the shopping centre. Access to these flats is via the
rear of the property through the car park/loading area.
The flats at Centre House are situated on the 3rd floor of the building, with
the common parts shared with the office occupiers on the lower floors. The
flats are accessed via stairs and a lift and were refurbished in the recent
past.
Asset Management
There is clear scope to enhance returns through increasing rents, efficient
management, and/or break up. In addition, the flats may suit multiple
occupation at premium rents.
**See below attachment for brochure**

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