E688 Churn Hill Lane, Himley, Staffordshire DY3

A large development comprising of thirty three Apartments

One lease has been extended (non-statutory) for 99 years from the 1st July 2016

Paying a Ground Rent of £400 per annum reviewed every 20 years to RPI

The remaining 32 Apartments are sold on 99 years from the 1st July 2002

Paying a combined (rising) Ground Rent £6,400 per annum doubling every 33 years

With 80.5 years remaining on the leases

The Total Ground Rent income is £6,800 per annum

The Lessee Owned Management Company insures (through an agency approved by the Landlord) and manages the development

Each Lessee has to be aged over 55

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: Executed Lease

GUIDE PRICE: £190,000