Property listing ID: 802496
"Excitingly the low ground rent is fixed for the next 12 years and thereafter renewable in perpetuity" Here is a fantastically affordable big family home in the heart of Grammar Zone, by Cornwall Park and close to transport options. This property is loaded with high value features - the 4 big bedrooms, the 3 bathrooms, a generous lounge with fireplace, a family room, a classy kitchen which overlooks the deck and back lawn and there's also the Sky Tower view. The classic bungalow embellishments of leadlight windows and French doors, the high ceilings and the panelled doors all add a special charm. You can buy for only a very small fraction of the equivalent freehold value and enjoy all the advantages of secure tenure. The capital value of $2,725,000 (2017) might suggest the low end of the freehold market value. The leasehold rent is $692 pw ($36,000 pa) and that remains fixed till 2032. In 2032 you will be free to renew the lease OR not renew the lease and leave. You are also free to sell up at any time before 2032 (conditions apply). The choice to renew the lease in 2032 and at every 21year review date thereafter is entirely over to you. Boost your families life style and educational opportunities by buying leasehold today. It's also a great way to accommodate the family while putting your funds to work in other investments for a better return. For advice call Tony.
Listed by Barfoot & Thompson , Tony Keegan (Epsom)