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FREEHOLD GROUND RENT PORTFOLIO - COVENTRY

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Guide price £250,000

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Description

A valuable portfolio of 68 freehold ground leases in blocks of two storey self-contained maisonettes, along with two separate lock-up garages. The properties are in established residential districts of Coventry, developed in the 1960's and 1970's. They are currently held on two separate legal titles, with 58 located in Greendale Road/Overdale Road, Whoberley (plus the 2 garages) and another 10 in Braemar Close, Wyken. The leases were originally for 99 years and some 45 of the leases have been extended at peppercorn ground rents for a further 99 years. A further 7 have been similarly extended but at higher ground rents than the originals. 16 remain on the original leases and ground rents with 11 ending in 2064 and 5 in 2072. The current combined ground rent and garage rental income is £2,694.00 per annum. A schedule of the leases is available on request. Please note that a director of the selling agents is a trustee for the vendor estate.

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