Freehold Ground Rent Investment currently producing £200 per annum

This lot comprises the ground rent investment secured on two self contained flats which currently produce £100 pa on each flat rising to £150 pa on each flat in 2033. The leaseholds of the two flats have been sold off with 63 years of the 99 year lease remaining and it is is expected that the current leaseholders will wish to extend their respected leases in the near future. The property consist of two x one bedrooms flats, one on the ground floor and one on the first floor, and is situated in a popular residential location of Southchurch.

Tenure

Freehold

Leasehold Information

Term: 99 years from 25 August 1988 (63 years remaining) Annual ground rent amount: £100 per flat Ground rent review period: 25 March 2033

Viewings

PLEASE NOTE NO VIEWINGS ARE BEING OFFERED FOR THIS PROPERTY

Energy Efficiency Rating (EPC)

Current Rating C

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Southend on Sea Borough Council

Solicitors

Downs Solicitors, Ref: Simon Fulford, Tel: 01483 411506

Additional Fees

Buyer's Premium - £600 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.