FREEHOLD GROUND RENT OPPORTUNITY
A large detached Victorian residence with ground and parking area just off Southsea Seafront and in a sought-after residential area.
The building was converted in 1995 into seven self-contained flats all now sold on long leases and producing £350 gross p.a. with a substantial increase in 12 years (2027).
Standard Lease Term: 125 years from 25th December 1994
Ground Rent: £50 p.a. payable half yearly
Review Dates: Every 33 years subject to Notice issued by Freeholder. The amount applying will be either the previous ground rent or 0.5% of the price likely to be paid for the property in the open market with vacant possession, whichever is the higher.