A ground rent investment property comprising 49 self-contained apartments, being sold subject to long leases of varying lengths
Location
Greenways is situated in Portslade, to the west of Brighton & Hove. The Old Shoreham Road (A270) lies to the South, connecting Brighton & Hove to Shoreham in the West. There are several schools in close proximity as well as a Sainsburys superstore within walking distance. Fishersgate railway station, is located within walking distance to the South West, and Portslade railway station to the South East, with direct services to Southampton, Brighton and London.
Terms
Offers are invited in the region of £350,000 for the freehold interest of the property. Under the terms of the lease, the freeholder has the right to appoint managing agents and to insure the building. Should a sale be agreed Section 5a Notices will subsequently be served on the qualifying tenants.
The leases include car parking provisions for the leaseholders and there is a covered car park in the grounds of the building. Each party is to be responsible for their own legal costs.
It is considered that there may be potential of further development, subject to planning, either within the grounds of the building or within the air space on the roof of the building.
Any enquiries relating to redevelopment potential should be explored by the buyer and referred to the Local Planning Authority.