Nine Apartments in a new build corner Development
sold on 125 year leases, one from 1st January 2018, eight from 2019
at a combined (rising) ground rent of £4,100 per annum
The ground rents are reviewed every ten years to RPI
The Landlord Insures, Manages and recovers costs due from the Lessees
collecting the Insurance Premium AS ADDITIONAL RENT
Sum Insured: £2,172,270. Premium: £1700.25. Renewal: 13th May 2021
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.
Eight of the Leases require Deeds of Rectification: their term commencement dates have been altered in drafting but someone forgot to change the review date
Section V Notices have not yet been served
Copy documents held electronically: Picture Gallery displaying the beauty of the Development, including night-time; Executed Lease; Insurance Summary; Ground Rent Schedule; details of Rectification required.
Original Developer Selling
GUIDE PRICE £102,500