E338 Redditch, Worcestershire B97
Eight (two bed) Apartments in two buildings as one Development
Sold on 99 years leases from 1st July 2002
THUS WITH EIGHTY FOUR YEARS REMAINING ON THE LEASES
At a combined (rising) ground rent of £1,000 per annum
The ground rents double every thirty three years
THUS THE GROUND RENT DOUBLES TO £2,000 IN SEVENTEEN YEARS TIME
The Lessee owned Management Company (Limited by shares) covenants to manage the building and insure “in the company of office… and the sum insured and the risks covered… as the Lessor shall approve… in the joint names of the Lessor and the Management Company”
The filing history is up to date but only dormant accounts have been filed
The Landlord retains ownership of everything above the ceilings, everything below the floors, the entire building envelope as well as all internal and external common parts and has the full and free right at any time to develop any part of the Property as they may think fit.
Mouseprice Flat Value: circa £130,000
Section V Notices have not yet been served
Copy documents held (electronically in a Data Room): Executed Lease; OCE’s; ManCo Company Details and Filing History; Mouseprice Details
Guide Price: £33/38,000
