Twenty eight Apartments in a seaview Development
Twenty five of the leases are sold on 125 years from the 1st January 2018
at a combined (rising) ground rent of £4,750 per annum
reviewed every 25 years to RPI
The remaining three leases are sold on 999 year leases from the 1st January 2009
at a combined (rising) ground rent of £825 per annum
doubling every 20 years for the first 100 years and then doubling every 100 years for the remainder of the Term
These 3 ground rents DOUBLE IN EIGHT YEARS
The total (rising) ground rent income is £5,575 per annum
The Landlord Insures and manages and recovers all costs AS ADDITIONAL RENT
Sum Insured: £5,659,709. Premium: £8,095.56. Renewal: 17th November 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.
Section 5 Notices have been served and the Lessees did not respond in the Statutory Time Limit.
This Development falls outside of the requirement for an EWS1 Form, being 4 storeys or fewer and with no ACM, MCM or HPL cladding. The guidance is effective from 5th April
Copy documents held electronically: Executed Lease for both review patterns, Schedule of Ground Rents, Specimen Section 5 Notice
Original Developer Selling
GUIDE PRICE £125,000