Studio Flat For Sale £14,500
Freehold Reversion of Glanmor Court, Glanmor Crescent, Newport, NP19 8AX

FOR SALE BY AUCTION - -Lot 47 - Freehold on a Block of 8 Flats (4 with short leases)
ON LINE AUCTION from 9th APRIL-11th APRIL

For sale is the freehold of a block of eight flats.

The purchaser for this lot will secure the freehold, subject to a lease being in place. A number of the flats have short leases and may wish to extend their lease within the next few years. If the lease expires and no action is taken by the lessee, the property will revert to the freeholder. If between now and the expiration of the lease, the lessee exercises his/her right to request a lease extension, a substantial cost will be paid to the freeholder.

The property is currently collecting the following income:
Service charge £9,600 per annum
Ground rent: £800 per annum

The building is situated in a desirable area in the City of Newport and is a short distance from the city centre. Newport bus and train station are both approximately a 10 minute drive.