Freehold Ground Rent Investment Producing £1245 PA Rising Every 10 Years To RPI Including Rooftop Development With Planning Permission

A planning application was made on the 28th February 2022 for the proposed construction of an upward extension, utilising the airspace above an existing residential and commercial premises - in order to provide a single dwelling (Class C3). Planning permission was granted 9th December 2022 Planning No. APP/U1430/W/22/3300762 FULL PLANNING DRAWINGS IN LEGAL PACK PLEASE NOTE the pictures shown on this catalogue page are CGI images of the building and show the proposed roof top development Situation The property is situated in Little Common Village to the south of the A259. Local shops and amenities are nearby including a Tesco Express and doctors surgery. Collington mainline railway station is just over a mile away (Eastbourne 21 minutes) Lease Terms All 5 leases have a term of 125 year lease from and including 29th September 2019 at initial ground rent of £249 pa Ground Rent Review All flat leases have their ground rent reviewed every 10 years based on increase in Retail Price Index (RPI) Notices Section 5B Notices Landlord & Tenant Act 1987 ( as amended ) have been served. Copy in legal pack. NB WE DRAW YOUR ATTENTION TO THE SPECIAL CONDITIONS IN THE LEGAL PACK, REFERRING TO OTHER CHARGES IN ADDITION TO THE PURCHASE PRICE. PLEASE ENSURE YOU READ THE SPECIAL CONDITIONS THOROUGHLY

Lot Type

Freehold Rooftop Development Opportunity

Additional Fees

Administration Charge - Purchasers will be required to pay an Administration fee of 0.5% (inc VAT) of the sale price, subject to a minimum of £1,500 (£1,250 plus VAT)

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