A freehold block of three self-contained flat each sold on long leases, located in a mixed residential and commercial area of Eastbourne and within close proximity to Eastbourne town centre and seafront.
Flat 1 and Flat 3 have been sold on 125 years leases from 25th December 2005, each at a current ground rental of £75 per annum. Flat 2 has been sold on a long lease from the 25th December 2005 to 24th December 2130 at a current ground rental of £75 per annum.
We understand that the leases provide for the freeholder to insure, maintain and manage the block recovering the cost from the leaseholders by way of a service charge.
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.