Lake Lane, Barnham, Bognor Regis £565,000

INVESTMENT AND DEVELOPMENT OPPORTUNITY (STTP) Mackenzie Sampson are pleased to offer this investment opportunity. The property comprises of the freehold, surrounding land and 3 x 1 bedroom apartments. Abbie Court was built in 2007 and consists of 12 flats, 9 of the flats have been sold with three second floor flats retained and rented on AST’s at 2 at £825pcm, with one at £900. all flats are due a rent increase. Each flat has its own parking space and, all flats were issued with a 125 year lease from 2007 and pay £250 per annum ground rent doubling every 25 years.

To the right hand side of the property is ample space for further development and again the possibility of adding an additional floor with 1 or 2 flats (subject to planning)

Total ground rent income is £2250 Ground rent

Total rental income is £30,600 for the three flats.

Copy of leases available