Lot
029
Auction Ends: 27/03/2024 11:51 - Bidding opens Tuesday 26th March 10:00 AM

Flats & Garages At Lowther Court, Sandy Lane, Prestwich, Manchester, Lancashire, M25 9PS

Property Details
Location
Description
A multi asset investment opportunity comprising 3 x 1 bedroom flats within a purpose built apartment block, 14 associated garages, lapsed planning consent for residential development and ground rents encompassing each of the apartments. The flats and garages are all let, which along with the ground rents, produce an annual income of approximately £32,000. The previous planning permission was approved for demolition of existing garages and construction of 2 x semi detached houses and could have potential to be re-implemented, subject to consent.

Location
Lowther Court is a mixed residential and commercial development fronting onto Sandy Lane close to it's junction with Butterstile Lane. The immediate surrounding area is popular residential location close to the centre of Prestwich which is home to a number of local shops, cafe's, bistro's and bars. Junction 17 of the M60 motorway network is approximately 1.5 miles away providing access into Manchester City Centre which sits 5 miles to the south.
Accommodation
Pugh & Co have not inspected the flats or the garages internally at this stage.
Planning
Planning permission was approved by Bury Council on 1st March 2017 for the demolition of existing garages and construction of 2 x semi detached houses. Planning ref 60997
Tenancy

Flats

Flat 11 Lowther Court£600pcm
Flat 12 Lowther Court£600pcm
Flat 14 Lowther Court£600pcm
Garages

Garage 1£60pcm
Garage 2£60pcm
Garage 3£55pcm
Garage 4£60pcm
Garage 5 £60pcm
Garage 6£60pcm
Garage 7£60pcm
Garage 8£60pcm
Garage 9£60pcm
Garage 10£60pcm
Garage 21£65pcm
Storage Shed 1£70pcm
Storage Shed 2£60pcm
Storage Shed 3£60pcm
Ground Rents

Flat 1 Lowther Court£60p/a
Flat 2 Lowther Court£60p/a
Flat 3 Lowther Court£40p/a
Flat 4 Lowther Court£40p/a
Flat 5 Lowther Court£60p/a
Flat 6 Lowther CourtPeppercorn
Flat 7 Lowther Court£60p/a
Flat 8 Lowther Court£50p/a
Flat 9 Lowther CourtPeppercorn
Flat 10 Lowther Court£60p/a

Costs
Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.
General
1. All the information provided on our website is for indicative purposes only and interested parties should refer to the contents of the legal pack and rely upon their own due diligence as a prudent bidder.

2. PLEASE NOTE BIDDING COMMENCES ON TUESDAY 26TH MARCH AND CLOSES ON WEDNESDAY 27TH MARCH.

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