Fifteen Purpose-Built Apartments in a detached 2019 development
at a combined (rising) ground rent income of £4,250 per annum.
Eight original leases the Developer sold on 125 year Leases from 1st January 2018
with the ground rents reviewed every 20 years to RPI
(paying a combined ground rent of £2,500 per annum).
The remaining seven leases the Receiver sold on 250 year Leases from 2020
with the ground rents reviewed every 25 years to RPI
(paying a combined ground rent of £1,750 per annum)
An RTM is in place with the Landlord currently Insuring.
Sum Insured: £4,050,000. Premium: £5,201.13; TBC. Renewal: 25th April 2022
The Landlord owns everything above the ceilings, below the floors and the building envelope
and can Develop as they see fit
The Lessees cannot alter their premises without the written consent of the Landlord
Section V Notices have not yet been served
Copy documents held electronically: Two Executed Leases; Architects Documentation; OCE’s; RTM Notice; Ground Rent Schedule; Fire Risk Assessment; Insurance Summary of Cover
GUIDE PRICE £89,500