Block of flats for sale

Millway Close, Oxford, Oxfordshire OX2

Guide Price = £225,000+

**For Sale By Auction . To inspect the legal documents for this property go to our website to download the legal pack**

A Freehold Ground Rent Investment Secured Upon 55 Flats and 33 Garages Producing £1,265 Per Annum Combined. Offered with Planning Permission for the Erection of 4 x One Bedroom Flats (Works Have Commenced).

National Online Auction - 13th-14th January 2025

Tenure
Freehold

Location
The property is situated on a residential road close to local shops and amenities. The open spaces of Burgess Field are within easy reach. Transport links are provided by Oxford Parkway rail station.

Description
The property comprises three purpose built blocks arranged to provide 55 flats and 33 garages across ground and two upper floors.

Tenancy
The 55 flats and 33 garages are all subject to a lease for a term of 999 years from 25th March 1971 (thus approximately 945 years unexpired) at a combined ground rent of £1,265 per annum

Planning
Oxford City Council granted the following planning permission (ref: 18/02644/ful (18/02644/cnd) (18/02644/CND2) (21/01837/var) on 3rd October 2018: 'Erection of 4 x 1 bed flats (Use Class C3) to first and second floor infills between existing block gable ends. Provision of bike storage. Retaining all car parking spaces, garages and refuse stores'. Works have commenced.