Withdrawn
- Commercial Property
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Freehold Subject To A Head Lease With ONLY 4 Years Remaining; Arranged As 3 Flats
Unusual reversionary interest with Head Lease expiring in 4 years time (September 2028) A substantial red-brick detached building in prime residential location in central Hove. The entire building is let on a Head Lease (dated 01.12.1978) for a 50 year term from 29th September 1978 at a fixed ground rent of £200 pa. This is a Full Repairing & Insuring Lease. There are 2 Under Leases granted out of the Head Lease as below. The first floor (rear) half landing flat comprises a small studio flat with a main studio room (including bay window), a separate kitchen and shower/WC -this flat is not held on an under lease and will revert to the freeholder in September 2028. Location Pin (What3Words): march.leader.dated https://w3w.co/march.leader.dated 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 The property is arranged as 3 flats with 2 of the flats being sold off on leases as follows:- GROUND FLOOR FLAT (49A) Comprises a flat (EPC measurement, 59 sq.m.) which includes a right to use the gardens and garage to store garden implements. Sold off on under lease for 50 years lease (-3 days) from 29th September 1978, therefore also expiring in September 2028 - ONLY 4 years remaining on lease. £10 fixed ground rent. UPPER MAISONETTE (49B) (part 1st/2nd floors) has an extended lease for a term of 140 years from 29th September 1978 (94 years remaining) - statutory lease extension from 2017.Peppercorn rent. All copy Leases in legal pack. No notices are required under the Landlord and Tenant Act 1987 sec 5.
Lot Type
Freehold Reversionary Investment
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Administration Charge - Purchasers will be required to pay an Administration fee of 0.5% (inc VAT) of the sale price, subject to a minimum of £1,500 (£1,250 plus VAT)
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
