Description

  • Freehold Ground Rent Investment
  • Producing Ground Rent Income of £350 Per Annum
  • Flat 2 with Only 56 Years Remaining on the Lease
DESCRIPTION This detached purpose built property comprises of four apartments each with an allocated parking space. All units have been sold off on long leases. Flats 1, 3 and 4 all have new 125 year leases granted in 2013. Flat 2 has 56 years remaining on the lease.

Solicitors

Wannops LLP, 54 High Street, Bognor Regis, PO21 1SP Tel: 01243 864001 FAO: Ken Poupart

Accommodation

Column 1 Column 2
TENANCY SCHEDULE
FLAT 1:
LEASE: 125 years from 1st January 2013
GROUND RENT: £100 per annum

FLAT 2:
LEASE: 99 years from 25th March 1974
GROUND RENT: £50 per annum
FLAT 3:
LEASE: 125 years from 1st January 2013
GROUND RENT: £100 per annum

FLAT 4:
LEASE: 125 years from 1st January 2013
GROUND RENT: £100 per annum
CURRENT GROUND RENT INCOME: £350 per annum
Copies of the leases, office copy entries etc… will be available within the legal pack.
NB: Please note that under section 5b of the Landlord and Tenant Act 1987 (as amended) the requisite Notices have been served on the tenants who HAVE NOT taken up their rights to first refusal whilst the aforementioned notices have expired.

Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.