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    Key features

    • To be offered on Wednesday 10 December
    • Of interest to Developers
    • A seafront freehold block comprising 27 flats (sold off on leases and one with 48 years unexpired)
    • Planning permission for 9 new rooftop apartments to which 7 are duplexes
    • Well located for the amenities of Lancing
    • Ground Rent Income is £2,950 per annum rising

    Description

    A seafront freehold block comprising 27 flats (sold off on leases and one with 48 years unexpired).

    Additional information

    Tenure

    Freehold.

    Tenancy

    All flats are sold off on long leases producing a total ground rent of £2,950 per annum rising. Please refer to the tenancy schedule within the legal pack for further information.

    Planning

    Planning Permission (ref: AWDM/0202/24) was granted by Adur District Council on8th August 2024 for "Part 1-storey, part 2-storey rooftop extension to develop 9no. residential units; and associated works".


    Proposed Accommodation:

    Flat 1 - Two Bedroom Flat (approximately 1055 Combined Sq Ft)

    Flat 2 - Two Bedroom Flat (approximately 1346 Combined Sq Ft)

    Flat 3 - Two Bedroom Flat (approximately 991 Combined Sq Ft)

    Flat 4 - Two Bedroom Flat (approximately 947 Combined Sq Ft)

    Flat 5 - Two Bedroom Flat (approximately 904 Combined Sq Ft)

    Flat 6 - Two Bedroom Flat (approximately 1034 Combined Sq Ft)

    Flat 7 - Two Bedroom Flat (approximately 947 Combined Sq Ft)

    Flat 8 - Three Bedroom Flat (approximately 1637 Combined Sq Ft)

    Flat 9 - Three Bedroom Flat (approximately 1152 Combined Sq Ft)

    Rent

    Ground Rent Income is £2,557.50 per annum rising.

    Notes

    Section 5B notices have been served and we are advised the lessees have reserved their rights. Please refer to the legal pack.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Located on Brighton Road, close to the turning for Penhill Road.

      Local amenities are available along South Street and North Street.

      The recreational amenities of Lancing Beach Green and Glancer Beach are nearby.

      Road links via the A27.

      Transport

      Lancing - National Rail.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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