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Lot 12
Flats 2–96 (even), Stoke Abbott Court, Stoke Abbott Road, Worthing, West Sussex BN11 1HJ

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Sold: £160,000

GROUND RENT INVESTMENT
6 Week completion

SITUATION

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.

PROPERTY

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

TENURE

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.

*Please note:

RESERVE:The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE: Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.