West Sussex Ground Rent Investment With Planning Permission

WALTON ROAD, BOGNOR REGIS, WEST SUSSEX, PO21 1NN

Freehold development opportunity comprising a 3 storey block of 5 X 2 bedroom apartments (sold off on long leases) with prior approval for an additional floor and construction of 2 x 2 bedroom penthouse apartments. Ground rents of £200 pa (rising).

The block is situated in a residential area, just back from The Esplanade and seafront. Flat 1 is held on a lease for 999 years at a peppercorn. Flat 2 is held on a lease for 999 years at a peppercorn. Flat 3 is held on a lease until 19/12/2161. The ground rent is £100 for the first 25 years, doubling every 25 years. Flat 4 is held on a lease until 19/12/2161. The annual rent is £100 until 24/06/2032 increasing by £100 every 30 years. Flat 5 is held on a lease of 140 years approx. at a peppercorn. Prior Approval Ref: BR/178/22/PD granted by Arun District Council on 25/10/2022 for construction of an additional storey creating 2 additional, 2 bedroom apartments.