A Development of six Apartments in a lovely Purpose Built Block and seven houses
The six Apartments are sold on 125 year leases from 1st January 2006
at a current combined (rising) ground rent of £2,150.60 per annum
The ground rents are reviewed EVERY YEAR to the Halifax Price Index
The Landlord insures, manages and recovers all costs from the Lessees as ADDITIONAL RENT
Sum Insured: £923,789. Premium: £445.72. Renewal Date: 31st December 2019.
The Landlord owns everything above the ceilings, below the floors, the building envelope, the lift system, the roof spaces, the visitor car parking spaces and the Pergolas on and over the car parking area
and can develop as they see fit.
The Lessees cannot alter their premises without the written consent of the Landlord.
Section V Notices will not be required because one Tenant owns the leases of four of the Apartments
The seven houses have been sold Freehold with each House Owner paying the Freeholder an ESTATE RENT CHARGE committing them to contribute to the maintenance of the Common Appurtenances which includes an unadopted access road. There are a number of garages sold on 999 year leases to House Owners on a peppercorn ground rent.
Copy documents held electronically: Executed Apartment Lease; Executed Garage Lease; Transfer showing Estate Rent Charge; Insurance Summary of Cover; Aerial Site Plan
Nationwide House Price Index since 1952 (showing an annual average over 8%)
Guide Price: £60,000