Lot 80

FREEHOLD GROUND RENTS WITH ADVERTISING HOARDING INCOME

Ground Rents, 41 Forton Road, Gosport, Hampshire, PO12 4TD
Guide Price £25,000+ * + Fees

Currently let at £900 per annum

Applicants may view the lot externally only

Situated a short distance from the Gosport Ferry, this end-terrace building is arranged as two self-contained flats each sold on a long leasehold basis. Each flat is sold on a 99 year lease, from 25th March 1990, at a current ground rental of £100 per annum.

Additionally, the freeholder benefits from an income of £700 per annum which is generated from an advertising hoarding attached to the side of the building and is the subject of a five year lease.

We understand the leases provide for the freeholder to insure, maintain and manage the building, recovering the costs from the leaseholders by way of a service charge.

Auctioneer's Note

Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.

Ground Rents, 41 Forton Road, Gosport, Hampshire
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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/