Seventy-Three Apartments in an attractive modern Development of two five-storey Blocks
(& Gatehouse) overlooking The Grand Union Canal.
sold on 125-year leases from 25th March 2007
at a combined (rising) ground rent of £6,900 per annum
with one Lease to one block to a Housing Association
(Forty-six at a peppercorn, forty-five at £150 and two at £75 per annum).
The Ground Rents are reviewed every twenty-five years
WITH THE NEXT REVIEW IN TEN YEARS
The Landlord Insures and Manages one Block, the Gatehouse and the Estate.
Buildings Sum Insured: £14,526,059. Premium: £19,200.46. Engineering Premium: £1331.12. Common Renewal: 30th March 2023
The Landlord owns everything above the ceilings, below the floors and the building envelope
and can Develop as they see fit.
The Lessees cannot alter their premises without the written consent of the Landlord.
Section V Notices have not yet been served.
Reason For Sale: Expanded Polystyrene Cladding, with Lightweight Render System with Cavity Barriers possibly needs to be replaced with new Cavity Barriers. Whist likely eligible for Parliament’s New Fund the Vendor wants out of the Management of the same.
Copy documents: One Car Parking and Two Residential Leases;
Insurance Summaries of Cover; Fire Risk Assessment; EWS1 Review;
Photograph Gallery of Development.
Acquired from the original Developer in 2016
GUIDE PRICE £175,000