Lot 50

FREEHOLD GROUND RENTS WITH STATUTORY TENANCY

Ground Rents, 31-37 Southview Gardens, Worthing, West Sussex, BN11 5JA
Ground Rents, 31-37 Southview Gardens, Worthing, West Sussex, BN11 5JA
Sold £161,000

Currently let at £6,212 per annum

This purpose built block of self-contained flats is arranged over two floors with garages to the rear. The property comprises four flats in total, three are sold on leases and the other is a three bedroom flat plus garage flat let to a Regulated Tenant. The block is situated in an established residential location in West Worthing between the seafront and Tarring Road with easy access to the local shops, amenities and the mainline railway station.

Flat 31 is sold on a 125 year lease from 25th December 1974 at a ground rental of £40 per annum. Flat 33 is sold on a 215 lease from 25th December 1974 at a peppercorn ground rental. Flat 37 is sold on a 215 year lease from 25th December 1974 at a current ground rental of £250 per annum.

Flat 35

Ground Floor

Entrance hall, living room, kitchen, three bedrooms, bathroom and separate W.C.

Outside

Garage in a compound to the rear of the property.

Tenancy

Let on a Regulated Tenancy (registered in 2006) at a registered rental of £1,480 per quarter.

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 the legislation.

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/