Lot 94: FREEHOLD GROUND RENTS

Sold £10,000

An end-terrace three storey building arranged as six self-contained flats situated in a popular residential area within close proximity of Hastings town centre.

Flats 3, 4 and 5 have been sold on 125 year leases, from 29th September 2017, each paying a current ground rental of £100 per annum, increasing by £50 every 25 years for the remainder of the term. Flat 1 is sold on a 125 year lease, from 30th September 1988, at a current ground rental of £50 per annum, increasing by £25 every 33 years for the remainder of the term. Flat 2 is sold on a 125 year lease, from 24th December 2017, at a current ground rental of £50 per annum, increasing by £25 every 35 years for the remainder of the term and Flat 6 is sold on 125 year lease, from 25th December 2015, at a current ground rental of £100 per annum, increasing by £50 every 25 years for the remainder of the term.

We understand that the freeholder insures, manages and maintains the block recovering the cost from the leaseholders by way of a service charge.

Auctioneer’s Note

Section 5(b) Notices under the Landlord and Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.