17-storey Henley Green tower block on sale for £4.2M

Got a few million to spare for a brand new pad?



Then how about this 17-storey concrete tower block in Coventry which has just gone on the market for a cool £4.2million?

Caradoc Hall in Caradoc Close, Henley Green, which has a total of 128 flats, is being sold by estate agents Bairstow Eves.

The block was built by Coventry City Council in 1965 before being sold to Coventry University for student accommodation in 1985 and then into private hands for £2m in 2008.

At the time only about 20 of the flats were occupied, and it took a team of workers over a year to carry out the mammoth task of cleaning and refurbishing the block, replacing carpets, kitchens, bathrooms and heating systems.

Speaking in 2010, landlord David Frew, said: “In some of the flats that had no heating kids had thrown parties.

“To keep warm they would rip the curtains off and set them on fire.

“There were floors of flats that no-one could possibly live in because there was no heating, toilets and sinks had been smashed up, doors had been kicked in.

“And then we had a major problem with the pigeons. Windows were open in empty flats and pigeons were just flying into the rooms.”

Now most of the flats are occupied by social housing tenants, although around two-dozen are privately owned.

Each floor, excluding the ground floor, has four one-bedroom dwellings and four studios.

In January 2012, residents had to be evacuated after thieves stole a copper water pipe worth just £1 from the 12th floor, causing £20,000 worth of flood damage.

During the investigation, police found a cannabis factory and weapons in one of the flats.

Mr Frew said at the time: “The vast majority of tenants are fantastic people.”

Final chance to buy Henley Green flats at bargain price

INVESTORS are being given one last chance to buy a Coventry landmark after estate agents slash the asking price by more than £1.5million.

Caradoc Hall in Caradoc Close, Henley Green, is now being sold for £2.6million after spending 12 months on the market at £4.2million.

It will go up for public auction at Le Meridien Hotel in Piccadilly, London, on October 26.

The 17-storey concrete building, which is made up of 52 studio flats and 50 one bedroom flats, is being sold as a going concern.

Bargain

Henley Green tower block to be auctioned

A 17-storey concrete tower block in Coventry, which was on the market for £4.2million, is set to go under the auctioneer’s hammer and could be snapped-up for as little as £2.6million.

If they’re lucky a shrewd investor could save themselves £1.6 million on the initial asking price for Caradoc Hall in Henley Green, which has a guide price of £2.6million when it goes under the hammer next month.

It is being sold at a public auction being held by Countrywide Property Auctions on December 8 at Le Meridien Piccadilly hotel in central London.

The new owner will get 103 of the 129 one-bedroom and studio apartments in the block - with 26 privately owned apartments not included in the sale.

Listed on the Right Move website the block in Caradoc Close is described as “an ideal buy-to-let investment” by Countrywide Property Auctions, who are jointly marketing the property with estate agents Bairstow Eves.

It says when fully let the property could provide its owner with an annual rental of £450,000.

The particulars describe Caradoc Hall as: “A superb portfolio of 103 flats in total, consisting of 52 studio flats and 51 one-bedroom flats

“An ideal-buy-to let investment with approximately 86 flats currently let generating approximately £415,000 in rental income. Potential when fully let to generate approximately £450,000 per annum.”

I wouldn't pay £1.00 for that

Still, no doubt some sucker from out of town will be buying.