Property Summary

A substantial detached red brick double fronted building of 20 converted flats
producing £2,850pa (rising every 25 years), with car parking to the front.

Situation

The property is situated in a prime residential location in central Hove.

NB WE DRAW YOUR ATTENTION TO THE SPECIAL CONDITIONS IN THE LEGAL PACK, REFERRING TO OTHER CHARGES IN ADDITION TO THE PURCHASE PRICE. PLEASE ENSURE YOU READ THE SPECIAL CONDITIONS THOROUGHLY

Term of Leases

Flat 13 - Extended; 187 years remaining; Peppercorn rent
All other flats (19 in total); 125 years from 29.09.1994; 97 years remaining

Ground Rent Income

Grounds rents are £75pa for each of the 19 flats doubling every 25 years.
The first review was 2019 and all rents are now £150pa. Next review is 22 years.
Totals:- £2850/£5700/£11400

History Sales in Block

Last sale in block registered as Flat 1 (2020) @ £220,000
A 1 Bedroom flat is currently on the market @ £285,000

Notes

Offered subject to Section 5a Notices under the Landlord & Tenant Act 1987

Leases and OCE available on request

Freeholder Manages & Insures

type

Freehold Ground Rent Investment for sale producing £2,850pa (rising)

description

A substantial detached red brick double fronted building of 20 converted flats
producing £2,850pa (rising every 25 years), with car parking to the front.

Situation

The property is situated in a prime residential location in central Hove.

NB WE DRAW YOUR ATTENTION TO THE SPECIAL CONDITIONS IN THE LEGAL PACK, REFERRING TO OTHER CHARGES IN ADDITION TO THE PURCHASE PRICE. PLEASE ENSURE YOU READ THE SPECIAL CONDITIONS THOROUGHLY

Term of Leases

Flat 13 - Extended; 187 years remaining; Peppercorn rent
All other flats (19 in total); 125 years from 29.09.1994; 97 years remaining

Ground Rent Income

Grounds rents are £75pa for each of the 19 flats doubling every 25 years.
The first review was 2019 and all rents are now £150pa. Next review is 22 years.
Totals:- £2850/£5700/£11400

History Sales in Block

Last sale in block registered as Flat 1 (2020) @ £220,000
A 1 Bedroom flat is currently on the market @ £285,000

Notes

Offered subject to Section 5a Notices under the Landlord & Tenant Act 1987

Leases and OCE available on request

Freeholder Manages & Insures