The Head Lease of Twenty Six Apartments above a parade of shops
sold on 150 year leases from 28th September 2004
at a combined (rising) ground rent of £5,600 per annum
The ground rents are REVIEWED UPWARD ONLY TO RPI EVERY TEN TEARS from 2019
with Time Not of the Essence thus late reviews back dated to the Review Date,
The Head Lease we offer is held from the Freeholder for a term of 999 years at a peppercorn.
The Freeholder insures and maintains the entrance hallway on the ground floor and the building envelope and our Landlord’s 26 Lessees covenant to pay all sums payable by our Landlord to the Superior Freehold Landlord under the terms of the Superior Lease
Our Landlord maintains all of the Upper Residential Two Floors and recovers the Service Charge Costs from the Lessees as ADDITIONAL RENT.
Practicable Completion of the Development is due August 2019 however our Client is putting the Apartments on the market shortly and anticipates them selling quickly.
We are looking for a buyer to exchange on this reversion in a timely manner to negate the need to serve Section V Notices
Copy documents held electronically: Executed Head Lease; Draft Apartment Lease.
Original Developer Selling
Guide Price: £112,000