E816: North Lingwell Road, Leeds LS10

Ten converted Apartments in a corner Development

sold on 125-year leases from 1st February 1990

at a combined (rising) ground rent of £1,250 per annum

The Ground Rents rise by £250 every 25 years (now in second review period).

 

93 YEARS LEFT ON THE LEASES.

 

Single Lease to a Lessee-owned Management Company with the ten occupational Leases arising under the Management Company Lease.

 

The Lessee-owned Management Company covenants to Insure in an Agency nominated by the Landlord.

 

The Landlord has, since ownership, historically Insured and Managed the Development.

Sum Insured: £1,380,000. Premium: £3,621.17. Renewal: 1st January 2023.

Management Fee: £1,500 per annum.

 

PLUS PLANNING POTENTIAL FOR TWO APARTMENTS – not yet applied for.

 

The Lessees cannot alter their premises without the written consent of the Landlord.

Section V Notices are not required.

 

Copy documents: Executed Lease to Management Company and Specimen Apartment Lease; Deed of Variation; Insurance Summary of Cover; Planning Drawings; Photo Gallery of the Development.

 

Acquired from the original Developer in the early 1990’s

 

GUIDE PRICE £30,000