49 Pembroke Crescent, Hove, BN3 5DF

Property Details: • Type: Commercial Property • Tenure: N/A • Floor Area: N/A

Key Features:

Location: • Nearest Station: Aldrington Station • Distance to Station: 0.3 miles

Agent Information: • Address: Austin Gray LLP, 37 Vernon Terrace, Brighton, BN1 3JH

Full Description: Withdrawn

**For Sale By Auction on Thursday 21 November 2024**

*Guide Price £295,000

Freehold Subject To A Head Lease With ONLY 4 Years Remaining; Arranged As 3 Flats

Description 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 as below. 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.

Location Pin (What3Words): march.leader.dated 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

The property is arranged as 3 flats with 2 of the flats being sold off on leases as follows:-

GROUND FLOOR FLAT (49A) Comprises a flat (EPC measurement, 59 sq.m.) which includes a right to use the gardens and garage to store garden implements. Sold off on under lease for 50 years lease (-3 days) from 29th September 1978, therefore also expiring in September 2028 - ONLY 4 years remaining on lease. £10 fixed ground rent.

UPPER MAISONETTE (49B) (part 1st/2nd floors) has an extended lease for a term of 140 years from 29th September 1978 (94 years remaining) - statutory lease extension from 2017.Peppercorn rent.

All copy Leases in legal pack. No notices are required under the Landlord and Tenant Act 1987 sec 5.BrochuresLegal Documents