31 & 33 Selbourne Road, Hove, BN3 3AL

lot type

Ground Rents

schedule

All flats sold off on 125 year leases from 2017.

All flats have ground rents doubling every 25 years, apart from Flat 33a which is reviewed every 25 yrs to RPI Index, but qualified not to exceed any maximum prescribed by Part I – Schedule 1 Housing Act 1988, i.e. £1 below any limit

Flat 5/31, Flat 7/31, Flat 2/33 and Flat 5/33 doubling every 25 yrs with same cap as above

All flats have sold recently at a total GDV of £3.7m

There are a mixture of studios, one & two beds

31 Selbourne Road - initial rents
Flats 1/2/4/5/6/7 - £150
Flat 3 - £350

33 Selbourne Road - initial rents
Flats 2/4/5/6 - £150
33a and Flat 3 each - £250
Flat 1 - £350

Copies of Office Copy Entries & Leases available.

Freeholder manages and insures

private treaty - sale status

Sold

type

freehold ground rent investment

description

2 adjoining buildings arranged as 14 flats – all sold off recently on long leases providing a current ground rent income of £2,700 per annum (rising).

One flat over sails both building hence being offered as 1 lot.

All flats sold off on 125 year leases for 2017.