The Overriding Headlease interests of Eighty Apartments in four Blocks.
Part of a Substantial and Spectacular Development.
Each of the four Blocks are held on single 999 year Overriding Headleases from 1st January 2010 at a peppercorn.
Under each of the four Overriding Headleases is a Headlease to a Management Company
out of which there are Eighty individual Occupational Underleases to each Apartment.
The Management Company covenants to collect the Ground Rents from each of their Eighty Underlessees and pass the Ground Rents up to the Overriding Headlessees above them.
The Overriding Headlessees receive a Ground Rent of £27,114.40 per annum
reviewed to RPI every five years with the next review due in four years.
The Management Company manages the Development.
Section V Notices are not required as these are not four Qualifying Disposals under the Act.
Copy documents held electronically: Copy documents held electronically: Structure Chart, Office Copy Entries, Overriding Headlease x4, Headlease (and Deed of Variation) to Management Company, Additional Headlease and Deed of Surrender (of part) & Variation x2 (whereby Access Road and Estate boundaries were realigned), example Underlease of Apartment and draft Rent Authority Letter.
Original Developer Selling
GUIDE PRICE £550,000