Lot 28: FREEHOLD GROUND RENTS

An attractive block situated on Hastings seafront comprising seven flats each sold on 999 year leases. Five of the flats have leases dating from 1991, the final two dating from 2004 and 2005. Flats 1, 2 and 6 pay a ground rental of £75 per annum, Flats 3 and 5 pay a ground rental of £35 per annum and Flats 4 and 7 pay a ground rental of £65 per annum.

The freeholder arranges for insurance, maintenance and management of the building recovering the cost from the lessees by way of a service charge.

Auctioneer’s Note

Section 5(b) Notice under the Landlord & Tenants Act 1987 have been served and the leaseholders have reserved their rights under the legislation.