Lot 93: FREEHOLD GROUND RENTS

Sold £8,500

A mid-terrace building arranged as two self-contained flats, situated in central Southsea. The ground floor flat (22a) has recently been the subject of a lease renewal and is held under the terms of a lease, extended on 29th July 2019 for a term of 189 years, from 25th December 1985, at a current ground rental of £100 per annum. The upper flat (22) is held under the terms of a 99 year lease, from 25th December 1985, at a current ground rental of £35 per annum.

The leases provide for the freeholder to arrange for the insurance, maintenance and management of the building, recovering the costs from the leaseholders by way of a service charge.

Auctioneer’s Note

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