Freehold Ground Rent Investment For Sale Warren Court, Ilminster, TA19 0BQ 14 X 1 Bed Apartments Ground rent income totaling £2,800 p.a

Warren Court, 5 Ditton Street,  Newly Built block of 14 x 1 Bedroom Apartments Ilminster, Somerset TA19 0BQ  Each Apartment sold on 125 year lease from January 2015  Initial Ground Rent £2,800 per annum (£200 per apartment)  Ground Rent subject to uplift every 25 years  Landlord insures and maintains property and common areas with Freehold For Sale costs fully recovered through a service charge

Guide Price £84,000

Location

 Ilminster is an historic market town, with a fine Minster Church that gives the town its name, situated some 12 miles equi-distance between and .

 Ilminster has good road links, situated just south of the A303 Trunk Road linking the south west with the M3 and the M5, junction 25 lies 11 miles to the north-west.

 There are mainline railway stations at 7 miles ( Waterloo) and the county town of Taunton 13 miles (London Paddington).

 Ditton Street is now a one-way street, accessed off the town’s central market square and provides a mix of commercial and residential properties fronting Tesco Supermarket. A public car park is located nearby.

The Property

 Warren Court is a recently completed new build block of 14 Apartments.

 All apartments are 1 bedroom with no parking.

 Warren Court benefits from a central Courtyard with Bin Store and Bike Store.

Lease Information

 Each apartment has been sold on a 125 year lease from 1st January 2015.

 Each Leaseholder pays ground rent of £200 rising to £400 in 2040, rising to £600 in 2065, rising to £800 in 2090 and to £1,000 in 2115.

 Landlord insures the building and is responsible for repair and maintenance of the external structure and communal areas with leaseholders reimbursing the landlord through a service charge, currently approximately £150 per leaseholder.

Terms  The freehold interest of Warren Court is available subject to 14 leases each with a term of 125 years from 1ST January 2015.

 Please note that notices will need to be served on the leaseholders prior to the property being sold to comply with legislation.

 Each Party will be responsible for their own legal costs.

Guide Price

 The freehold interest of Warren Court is available at a Guide Price of £84,000.

 VAT is not currently charged on rent and service charge contributions.

A Terms

Viewing

The exterior of the property can be inspected from the road. Viewings of internal communal areas can be organized through the sole agents. There will be no viewings of apartments.

Further Information

A copy of a generic lease and floor plans are available from the vendor’s agent, please contact :-

Robert Clark Greenslade Taylor Hunt 22 Princes Street Yeovil Somerset BA20 1EQ

Telephone: 01935 423474 Email: [email protected]

Important Notice – Property Misdescriptions Act 1981

Whilst we endeavor to make our sales details accurate and reliable, if there is any point which is of particular interest to you, please contact the office and we will be pleased to confirm the position for you, particularly if you are contemplating travelling some distance to view the property. None of the statements contained in these particulars are to be relied upon as statements or representation of fact. Interested applicants are advised to make their own enquiries and investigations before finalising their offer to purchase. We have not tested the appliances, central heating or services. Plans for illustration only. Not to scale.