For Sale

Sutton – A freehold purpose built property comprising 24 flats

Ashdown Court, 30 Cedar Road, Sutton, SM2 5DG

Offers in excess of £1,700,000

Property Type:
Residential
Tenure:
Freehold

Description

  • Freehold purpose built block
  • Comprises a total of 24 flats
  • 16 flats sold on long leases with c.95 years remaining
  • 8 unsold flats (3 x two bed flats, 4 x one bed flats, 1 x studio)
  • Fully let with each of the eight flats subject to an Assured Shorthold Tenancy
  • Current Assured Shorthold Tenancy income: £91,725 per annum
  • Current ground rent income: £1,200 per annum
  • Total overall income: £92,925 per annum
  • 33 car parking spaces (16 sold on long leases)
  • 17 car spaces available
  • Development potential (subject to obtaining all necessary consents)
  • 0.4 miles (0.64 km) from Sutton High Street and 0.3 miles (0.48 km) from Sutton railway station

Offers in excess of £1,700,000 are invited for the Freehold interest subject to the existing leases, subject to all tenancies, contract and serving Section 5A Notices

Subject to contract