Sixty-Nine Apartments in three three-storey blocks originally sold on 99 year leases from 1st September 1993
at a combined (rising) ground rent of £3,810.60 per annum.
The Ground Rents are reviewed every 20 years upward only to RPI
and were reviewed in 2013 with the next review due in 2033
Forty of the Leases have been extended, thus
there are TWENTY NINE LEASES with 70 YEARS remaining
There is one lease from the Freehold to a Lessee owned Management Company and sixty-nine Leases from the Freeholder and The Management Company to each individual Occupational Lessee.
The Landlord to each Lessee is the Lessee owned Management Company.
The Lessee owned Management Company covenants to insure ‘in the joint names of the Landlord and the Tenant against such risks as the Landlord shall from time to time deem fit to their full replacement value with an insurance office of repute approved by the Landlord’. The Management Company covenants that there shall be no alterations without the written consent of the Freeholder.
Copy Documents Held: Executed single Lease to the Management Company;
Executed Underlease from the Freeholder and the Management Company to an Occupational Lessee;
Freehold Title OCE; Sample of Lease Extensions with Premiums Paid.
GUIDE PRICE £250,000