Freehold Reversionary Investment for Auction Hove BN3

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Auction date: Thu, 21/11/2024 - 14:30

Guide Price £295,000. Freehold subject to a Head Lease with ONLY 4 years remaining; Arranged as 3 Flats. Unusual reversionary interest with Head Lease expiring in 4 years time (September 2028) A substantial red-brick detached building in prime residential location in central Hove. The entire building is let on a Head Lease (dated 01.12.1978) for a 50 year term from 29th September 1978 at a fixed ground rent of £200 pa. This is a Full Repairing & Insuring Lease. There are 2 Under Leases granted out of the Head Lease. The first floor (rear) half landing flat comprises a small studio flat with a main studio room (including bay window), a separate kitchen and shower/WC -this flat is not held on an under lease and will revert to the freeholder in September 2028.

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