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
