Lot 50: FREEHOLD GROUND RENTS WITH STATUTORY TENANCY

Sold £161,000

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.

Residential EPC: D