Freehold Garage Investment comprising three lock-up garages producing an income of £2,700 per annum.
LOCATION: Block of Garages situated at the end of Colinwood Close which is a cul-de-sac in a predominantly residential location in Great Wyrley. Landywood Railway Station is close by so too is Quinton Court Shopping Centre. The M6 Toll motorway and Cannock town centre are both within two miles.
DESCRIPTION: The property comprises three adjoining garages within a larger block. The garages are of brick construction with a flat roof.
TENANCIES: All three garages are let as follows:
Garage No. Rent Per Calendar Month Rent Per Annum
1. £70 £840
2. £90 £1080
3. £65 £780
TOTAL ANNUAL INCOME: £2,700 PER ANNUM
NB: We believe there is potential to increase the rent on the other two garages to £90 per calendar month. Potential Total Rental Income: £3240 per annum.
TENURE: We understand that the Garages are Freehold and we have not had sight of Report in Title to confirm this.
LEGAL COSTS: Potential purchasers will need to place an undertaking with their Solicitor in the sum of £1000 which will be used to cover the Vendor’s legal fees if the sale does not proceed to completion. If the sale does proceed to completion, then this sum will be deducted from the sale price on completion.
VIEWINGS: The garage site is open for inspection. Internal viewings will not be available as they are occupied.
Please note that all parties viewing the property do so at their own risk and neither the vendor nor the agent accept any responsibility or liability as a result of any such viewings.