A Freehold Ground Rent Investment Secured Upon A Mid Terrace Building Arranged to Provide Nine Flats All Sold Off on Long Leases Producing a Combined Ground Rent of £1,800 Per Annum
15 Hartington Road, Stockton-on-Tees, Cleveland, TS18 1HD
Freehold ground rent investment secured on a mid terrace building providing nine flats, all sold off on 999-year leases from 1st January 2022 at £200 per annum per flat, producing combined ground rent of £1,800 per annum.
Full description
Freehold and ground rent investment secured on a mid terrace building arranged to provide nine flats over ground and two upper floors. All flats have been sold off on long leases. The property is situated on a residential road close to local shops and amenities. The open spaces of Ropner Park are within easy reach. Transport links are provided by Stockton rail station. Each flat is sold off on a 999 year lease from 1st January 2022 at a ground rent of £200 per annum. As a ground rent investment, the purchase grants rights to the ground rent income rather than ownership of the flats themselves. When lease terms become low, the freeholder can charge each lessee a premium for extending their lease. Further income can be derived when the freeholder has the right to manage and insure the building. Tenure: Freehold.
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