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.
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.