Lodge Court

Donnington Wood, Telford, TF2

Tenure: Freehold

Own the whole street with this extrordinary opportunity to purchase a development of 10 houses in Lodge Court, Donnington. For sale via unconditional auction with a GUIDE PRICE of £1.2m (£120,000 per house). Option in place for a 5 year rent scheme with returns of £850 PCM on each house once they have been renovated to rent. £102,000 P/A. 

Tenure

The entire development is currently held under a single Freehold. The current owner constructed these properties circa 20 years ago and is now looking to offload. Four homes are still occupied by tenants with two currently paying rent and the other two with notices served. (Please note court proceedings will not be able to commense until new ownership). 

Property Condition

5 of the properties are vacant with one having already being fully refurbished whilst the others are part complete. 4 Still have tenants in residence. 1 Property is currently occupied by a caretaker.

Rental Option

We have been advised and seen evidence of an offer of a 5 year deal to take all 10 houses at a rent of £850 PCM (£102,000 P/A). The houses must be renovated to rental specification to be able to take up this option.

VAT

No Vat is payable on this transaction.

Auction

This opportunity is being sold with the assistance of our partner auctioneer SDL Auctions (Eddisons). The Guide Price is £1.2m. 

This development would make an excellent assisted living development being tucked away in a quiet residential location with only a couple of neighbours surrounding. The site would also offer a great return on investment to buy to let investors.

EPC rating: A. Council tax band: A, Tenure: Freehold,

Property Descriptions

Every property comprises of two bedrooms, an open plan living space, kitchen area, family bathroom, guest cloakroom private garden and off road parking to the front.

Current Condition

Each property is currently in need of refurbishment which the current owner is prepared to complete. The current owner is also happy to discuss terms for taking the development in its current condition.

Anticipated Rents

Current rents suggest that £795 PCM is achievable on each property taking into account the amount of parking, private gardens and size of the properties. There is currently a high rental demand in this area.

VAT

We have been advised that there is no Vat applicable to the sale.

Management Company and Site

Please note that the development currently has no management company, service charge or road maintenance charge as the site has always been owned in its entirity by the current owner.