For Sale

Sutton – A freehold purpose built property comprising 28 flats

Melford Court, 3 & 5 Cavendish Road, Sutton, SM2 5ET

Offers in excess of £1,650,000

Property Type:
Residential
Tenure:
Freehold

Description

  • Freehold purpose built block
  • Comprises a total of 28 flats
  • 20 flats sold on long leases with c.95 years remaining
  • 8 unsold flats (7 x one bed, 1 x studio)
  • Fully let with each of the eight flats subject to an Assured Shorthold Tenancy
  • Current Assured Shorthold Tenancy income: £83,706 per annum
  • Current ground rent income: £3,100 per annum
  • Total overall income: £86,806 per annum
  • 41 car parking spaces (20 spaces sold on long leases)
  • 21 car parking spaces available
  • 0.5 miles (0.8 km) from Sutton High Street and 0.4 miles (0.64 km) from Sutton railway station

Offers in excess of £1,650,000 are invited for the Freehold interest subject to the existing leases, subject to all tenancies, contract and serving Section 5A Notices

Subject to contract