Description
UNSOLD AT AUCTION
GUIDE PRICE: £150,000.
Offers now invited for this well-situated FREEHOLD GROUND RENT REVERSION vested in a purpose-built block of 15 apartments, ALL SOLD ON LONG LEASE; together with the valuable benefit of PLANNING PERMISSION for roof extension TO CREATE TWO 2-BEDROOM APARTMENTS. Within a desirable and varied Conservation Area (No. 15: Campbell Road), Campbell Mansions is a 1930s-built, three-storey residential development occupying a prominent corner site behind tree-planted gardens at the junction of Campbell Road with Lorne Road, some three-quarters of a mile only from Southsea Town Centre (Palmerston Road Shopping Precinct) and a similar distance from The Seafront.
LEASE/GROUND RENT SCHEDULE
Flat 1
215 years from 1.1.78 (170 years remaining).
Ground Rent: a peppercorn.
Flat 2
125 years from 1.1.78 (79.5 years remaining).
Current Ground Rent: £60 p.a.
Flat 3
215 years from 1.1.78 (170 years remaining).
Ground Rent: a peppercorn.
Flat 4
125 years from 1.1.78 (79.5 years remaining).
Current Ground Rent: £60 p.a.
Flat 5
215 years from 1.1.78 (170 years remaining).
Ground Rent: a peppercorn.
Flat 6
125 years from 1.1.78 (79.5 years remaining).
Current Ground Rent: £60 p.a.
Flat 7
215 years from 1.1.78 (170 years remaining).
Ground Rent: a peppercorn.
Flat 8
125 years from1.1.78 (79.5 years remaining).
Current Ground Rent: £60 p.a.
Flat 9
215 years from 1.1.78 (170 years remaining).
Ground Rent: a peppercorn.
Flat 10
125 years from 1.1.78 (79.5 years remaining).
Current Ground Rent: £60 p.a.
Flat 11
215 years from 1.1.78 (170 years remaining).
Current Ground Rent: £200 p.a.
Flat 12
215 years from 1.1.78 (170 years remaining).
Ground Rent: a peppercorn.
Flat 13
215 years from 1.1.78 (170 years remaining).
Ground Rent: a peppercorn.
Flat 14
215 years from 1.1.78 (170 years remaining).
Ground Rent: a peppercorn.
Flat 15
215 years from 1.1.78 (170 years remaining).
Ground Rent: a peppercorn.
TOTAL CURRENT INCOME
£560 p.a.
REVIEWS
Flats 1. 3, 5, 7, 9, 12, 13, 14 and 15 not applicable.
Flats 2, 4, 6, 8 and 10 - 2003-2028 £60 p.a.; 2028-2053 £120 p.a.; 2053-2078 £240 p.a.; 2078-2103 £275 p.a.
Flat 11 - 1978-2028 £200 p.a.; 2028-2053 £300 p.a.; 2053-2078 £400 p.a.; 2078-2103 £500 p.a.; 2103-2128 £600 p.a.; 2128-2153 £700 p.a.; 2153-2178 £800 p.a.; 2178-2193 £900 p.a.
PLANNING
Consent has been granted under Appeal (APP/Z1775/W/22/3292145) for the construction of a third floor roof extension comprising two 2 bedroom penthouse apartments, each of around 73 sq m (785 sq ft). Details of the scheme are available from the Auctioneers.
COMMUNITY INFRASTRUCTURE LEVY
A CIL payment of £25,323.60 has been calculated as applying to the proposed development.
NOTICES
Section 5 Notices have been served upon the various leaseholders.
VIEWING
OPEN SITE.
(17708/044289)
ADDITIONAL AUCTION COSTS
A Buyer's Premium of £450 + V.A.T., will be payable by the purchaser to the Auctioneers, either in the Saleroom or, if the Lot is sold prior to Auction, at the offices of Nesbit & Co. An Auction Legal Pack (including Contract of Sale and Special Conditions) will be prepared by the Seller's Solicitors and available for inspection by interested parties. Those intending to bid are advised to make themselves aware of the content of the Legal Pack, containing, as it will, information in respect of any other charges that may apply (Search Fees and/or Seller's legal costs for example).