Two Converted Apartments in a halls adjoining end of terrace
one sold on a 99 year lease and one on a 125 year lease both from 9th July 1998
at a combined (rising) ground rent of £300 per annum
The ground rents double every 25 years
THUS DOUBLING TO £600 PER ANNUM IN 3 and a half YEARS (July 2023)
ONE TWO BED APARTMENT HAS 78 YEARS REMAINING ON THEIR LEASE
With a paid for Deed of Variation to increase size into the loft with Dormer
(The first floor Lessee has recently died and probate is awaited)
The Landlord Insures, Manages and recovers all costs due from the Lessees AS ADDITIONAL RENT
Sum Insured: £488,299. Premium: £965.26. Renewal: 25th December 2019
The Landlord owns everything above the ceilings, below the floors and the building envelope
and can Develop as they see fit.
Lessees cannot alter their premises without the written consent of the Landlord.
Roof repairs are required, possibly a new roof. Surveyor engaged, Section 20 not yet served.
Section V Notices have not yet been served
Copy documents held electronically: Insurance Summary of Cover; OCE’s; Executed Leases; Deed of Variation
GUIDE PRICE: £13,000