Lot 115: FREEHOLD GROUND RENTS

Sold £100

A mid-terrace bay fronted property arranged over three floors as two self-contained flats. It is situated in a central location in a mixed commercial/residential thoroughfare just off Preston Circus, close to Brighton city centre. The ground floor flat is sold on a 999 year lease, from 25th December 1999, at a current ground rental of £40 per annum. The first/ second floor maisonette has been sold on a 999 year lease, from 24th June 1981, at a current ground rental of £25 per annum.

We understand that the freeholder is responsible for maintenance, management and insurance of the building, recovering the costs from the leaseholders by way of a service charge.

Auctioneer’s Note

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