Lot 99

FREEHOLD GROUND RENT INVESTMENT

Grount Rents, 17 Wykeham Road, Hastings, East Sussex, TN34 1UA
Guide Price £25,000 – £30,000 * + Fees

Currently let at £240 per annum

Applicants may view the lot externally only

This impressive semi-detached bay-fronted property is arranged over four floors as seven self-contained flats and produces £240 per annum. Three of the flats have been sold on 99 year leases at an annual ground rent of £80 per annum each and the remainder have been sold on peppercorn rents.

Flats 1A, 1B and Flat 2 all have 99 year leases from 25th March 1981, 25th March 1982 and 24th June 1980 respectively.

Flats 3 and 4 have 189 year leases from 24th June 1980 with the lease of Flat 5 for 189 years from 25th March 1980 and the lease of the Garden Flat for 198 years also from 25th March 1980.

We understand the freeholder maintains and insures the building and recovers the cost by way of a service charge.

Auctioneer’s Note

Section 5(b) Notices under the Landlord and Tenant Act 1987 (as amended) have been served and the leaseholders have reserved their rights under then legislation.

Grount Rents, 17 Wykeham Road, Hastings, East Sussex
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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/