Lot 116: FREEHOLD GROUND RENTS

Sold £3,900

A bay fronted two storey corner property arranged as two self-contained flats, situated on the corner of Eastern Road just off the main A259 in the Kemp Town area of Brighton.

The ground floor flat is sold on a 105 year lease from 25th March 2017, at a current ground rental of £150 per annum which doubles every 25 years until the expiry of the term. The first floor flat (41a) has been sold on a 125 year lease from 15th June 2017, at a current ground rental £150 per annum, also doubling every 25 years until the expiry of the term.

We understand that the freeholder is responsible for the maintenance, management and insurance 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 reserved their rights under the legislation.