A Freehold Ground Rent Investment Secured Upon a Mid Terrace Building Made up of Four Flats Each (All Sold-Off) Currently Producing £300 Per Annum

The property comprises a mid-terrace building four self-contained flats each arranged over lower ground, ground, first and second floor levels.

Tenure

Freehold

Location

The property is situated in the seaside town of St. Leonards-on-Sea close to local shops and amenities. The open spaces of St. Leonards-on-Sea Beach are within close proximity. Transport links are provided by St. Leonards Warrior Square rail station.

Accommodation

Lower Ground Floor 2 Bed Flat (Sold Off) 999 years from Oct 2023 ( 999 years unexpired) Ground Floor 2 Bed Flat (Sold Off) 125 years from 23 May 2022 ( 123 years unexpired) First Floor 2 Bed Flat (Sold Off) 125 years from 22 Nov 2018 ( 119 years unexpired) Second Floor 2 Bed Flat (Sold Off) 125 years from 7 Aug 2019 ( 120 years unexpired)

Further Information

A Ground Rent is a nominal annual rent paid by the leaseholder to the freeholder. When you purchase a ground rent investment you are purchasing the rights to the ground rent income, not the flats themselves. When the lease terms become low, the freeholder can charge each lessee a premium for extending their lease. Further income can be derived when the freeholder has the right to manage and insure the building.

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.