Each Let on Shared Ownership Scheme (50%) for 125 years (1)
Annual Retail Price Index (RPI) Rent Increases (1)
Situated in an Attractive Village location
Includes 7 x 2 bedroom houses and 3 x 3 bedroom houses
Forms part of the 49 new home Kings Acre Development
Lot 24
Auction 17th September 2026
Rent £42,805 per Annum Exclusive subject annual increaes linked to the Retail Price Index. (1)
Status Available
Guide* £550,000 - £600,000
Sector Long Income, Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
7 miles north of Welshpool, 8 miles south of Oswestry, 22 miles west of Shrewsbury
Roads
A483, A458, A5
Rail
Welshpool Railway Station
Air
Liverpool John Lennon Airport
Situation
Four Crosses is an attractive rural village situated some 6 miles south of Oswestry. The property is situated within the King Acre development, comprising 49 home which include 2, 3, and 4 bedroom homes. The development is located in a predominantly residential and rural area within the village, whilst the surrounding locality offers a range of facilities including a medical centre, veterinary surgery, schools and a range of local businesses. The property also benefits from excellent communication links with the A483, 650 metres west. Oswestry and Welshpool market towns are also approximately 8 miles from the property.
Tenure
Freehold.
Location
Miles
7 miles north of Welshpool, 8 miles south of Oswestry, 22 miles west of Shrewsbury
Roads
A483, A458, A5
Rail
Welshpool Railway Station
Air
Liverpool John Lennon Airport
Situation
Four Crosses is an attractive rural village situated some 6 miles south of Oswestry. The property is situated within the King Acre development, comprising 49 home which include 2, 3, and 4 bedroom homes. The development is located in a predominantly residential and rural area within the village, whilst the surrounding locality offers a range of facilities including a medical centre, veterinary surgery, schools and a range of local businesses. The property also benefits from excellent communication links with the A483, 650 metres west. Oswestry and Welshpool market towns are also approximately 8 miles from the property.
Tenure
Freehold.
Description
The property comprises 10 recently constructed houses within the Kings Acre 49 new home development including 7 x 2 bedroom terraced houses and 3 x 3 bedroom houses. Each house is let on a 50% shared ownership scheme to owner occupiers. The remaining 50% of each house is let by the Seller to the owner occupier at the total rents reserved stated below.
The tenant's 54% share in the 2 bedroom house at 12 Maes Sarn Wen was sold in October 2024 for £119,950.
VAT
VAT is not applicable to this lot.
EPC
Please refer to the Legal Pack.
Description
The property comprises 10 recently constructed houses within the Kings Acre 49 new home development including 7 x 2 bedroom terraced houses and 3 x 3 bedroom houses. Each house is let on a 50% shared ownership scheme to owner occupiers. The remaining 50% of each house is let by the Seller to the owner occupier at the total rents reserved stated below.
The tenant's 54% share in the 2 bedroom house at 12 Maes Sarn Wen was sold in October 2024 for £119,950.
VAT
VAT is not applicable to this lot.
EPC
Please refer to the Legal Pack.
Tenancy & Accommodation
Floor
Use
Tenant
Term
Rent p.a.x.
Reviews
Ground/First
Residential - 10 x houses
INDIVIDUALS
Each Let for a term of 125 years from 2021 (1)
£42,205.28 (1)
1st April 2027 and Annual increases in line with the Retail Price Index for the first 30 years of each lease term.
Total
£42,205.28 (1)
(1) Each house is subject a 125 year lease of 50% of each house in favour of the occupiers. The occupiers lease the remaining 50% of the property from the Seller, (save for tenant of 11 Maes Sarn Wen whose equity is 45%) at a total rent of £42,205.28 per annum exclusive which is subject to annual increase in line with the Retail Price Index for the first 30 years of each lease term. Including the £600 in total Ground Rents, the total income is £42,805.28 per annum exclusive. Each lease provides for the recovery of the Buildings Insurance premiums, as well as the Estate Wide Service Charge and the provision for the tenant to earn a further 1% bonus equity, on the sale of the tenants interest in property, for every year they have been in the lease if the tenant complies with all their lease Covenants each year. The 125 year lease term commencement dates are as follows. 1 Pen Sarn Wen from 1st September 2021 2 Pen Sarn Wen from 8th December 2023 11 and 12 Maes Sarn Wen -from 1st September 2021 16 to 20 and 22 Maes Sarn Wen from 1st September 2021
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
