Thirty-six two-bed Apartments in a Court Development of two blocks with twenty-five Garages and an Electricity Sub Station.
The Apartments were originally sold on 99 year leases from varying dates between 1978 to 1983
at a combined (rising) ground rent of £5,545 per annum
Most of the ground rents are reviewed every 15 or 25 years (rising to £8,725 per annum in 2028).
TWENTY-NINE Apartments with 55 YEARS to run
ONE Apartment with 84 YEARS to run
ONE Apartment with 93 YEARS to run
SUB-STATION with 20 YEARS to run
Five Apartments have over 100 years to run.
The Landlord Insures and manages and recovers all costs from the Lessees.
Sum Insured: £7,656,618. Premium: £4,479.
DEVELOPMENT POTENTIAL (Permitted Development on flat roofs and two new houses)
Four Leases have been Varied to enable Lessees to Sub Let their Apartments.
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.
Copy documents held electronically: Schedule of Lease Terms and Ground Rents (including Review Method). Executed Lease; Deed of Variation; Plans
GUIDE PRICE £330,000