GROUND RENT INVESTMENT
6 Week completion
Located at the junction with Chapel Road directly opposite the Civic Centre, with frontages to both Stoke Abbott Road and Winton Place, in this mixed commercial and residential area only a few minutes' walk from the prime retailing area within the main town centre and the Sea Front.
Worthing is a popular coastal resort and a busy commercial centre, only 9 miles west of Brighton and enjoying excellent road links with the A27.
Forming part of a substantial building comprising 48 Self-Contained Flats on the first and second floors with entry-phone access and a central walkway at first floor level.
VAT is NOT applicable to this Lot
Leasehold for a term of 125 years from 25th December 1981 (thus having approx. 89½ years unexpired) at a peppercorn ground rent.
Note 3: Many of the ground rents increase periodically - Refer to Auctioneers for Rent Increase Schedule.
Note 4: In accordance with s.5B of the Landlord & Tenant Act 1987, Notices have been served on the Lessees and they have not reserved their rights of first refusal.
This Lot cannot be sold prior to auction.
Note 5: There may be potential to add another floor, subject to obtaining Planning and Freeholder's consent as the Roof is demised to the Vendor, i.e. the head-lessee.