Land
Key information
Features and description
- Corner parcel of land
- App 88ft max x 66ft road frontage
- Let on a 3 year AST from 2023
- Rental income of £7,200 per annum
- Medium/long term development potential (STPP)
- Fantastic investment opportunity
- Guide price : £30,000 - £40,000
- For sale by livestream auction
- Unless previously sold or withdrawn prior
- 11:00 am, Wednesday 12th February 2025
SOLD AT AUCTION FOR £41,000
A parcel of land providing a high rental income
This interesting Freehold investment/speculative Lot comprises a corner parcel of land measuring approximately 88ft at its deepest point by 66ft of road frontage with gated access.
The land has mains water which is charged at £20 per month, electricity which is independently metered, a private drainage system and has been rented out on a 3 year tenancy agreement from 4th September 2023 at a rent of £600 per calendar month (£7,200 per annum) and is utilised to house a caravan which is permanently occupied.
We consider there to be development potential in the medium/long term (STPP) but with an annual return of 24% based on the low end of the Guide there's no doubt this is a fantastic investment opportunity.
Tenure: Freehold
Administration Fee: 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Buyer's Premium Fee: £900 inc VAT payable on exchange of contracts.
Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
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