CRT property for sale by auction

[John Brightley]

A few Canal & River trust properties are included in CP Bigwood's next auction - see http://www.cpbigwood.com/property/auction/33/current-auction

 

It includes the site of Hednesford Basin:

[bigcol]

Looking through

 

A lot of those property's have very low guild prices, or am I missing something.

 

Next the CRT land.

the boundarys always full short, of the canal. You can buy the land, but not 2/3 ft on the canal side edge?

Or am I missing something again. There's a few of them for sale.

 

Many thanks

 

Col

[colinwilks]

The sale is of the freehold, for which the leaseholder (Cannock Council) will pay you a ground rent of a few quid a year. Their leasehold is for a period of 250 years from 1983, so you'll probably be a bit past it by the time you get full use of the land back in your hot and sticky.

Could be a good investment for your great, great etc etc grandchildren though.

Edited February 6, 2016 by colinwilks

[the barnacle]

i know most of the roads where the houses are for auction some are in very dodgy areas

[PeterG]

Why are CART trying sell off the freehold of something like this?

[TheBiscuits]

Why are CART trying sell off the freehold of something like this?

Because for a few quid a year it's not worth admin costs, at a guess.

 

If you disagree, bid a grand or so on it ...

[John Brightley]

Because for a few quid a year it's not worth admin costs, at a guess.

 

If you disagree, bid a grand or so on it ...

It's not actually a few quid, it's a peppercorn, which is nothing. But owning the freehold does sometimes (depending on the title deeds) give you some rights to restrict what is built on the land.

[MtB]

More to the point, ground rent investment can prove VERY lucrative. Leaseholders need information from the freeholder to flog their leases, e.g. statements of account for gorund rent and maintenance charges, and avaricious freeholders charge several £k for these statements of account. Money for old rope. A GR investment costing say £5k can pay for iteself many times over in a couple of years.

[John Brightley]

The Hednesford basin land sold for £1500 at the auction. Other pieces of canalside land at Walsall and Ryders Green were sold pre-auction for undisclosed sums.

[Rufford]

i looked at the basin. but someyhing didnt ring quite right. a 400 page legal pack that came out about 5 days begore the auction and was then updated a day before the auction?

 

i just felt like it was only liabilty that was for sale.