Fifteen Apartments in a modern extended (upward) Development
four Apartments sold on 987-year Leases from 25th March 2021
and eleven Apartments sold on 1,000ish-year Leases from varying dates
at a combined (fixed) ground rent of £1,165 per annum
The Vendor erected the original Building of eleven Apartments and added four Apartments which were sold over the last year.
The Landlord Insures, Manages and recovers all costs AS ADDITIONAL RENT
Sum Insured: £3,206,606.20. Premium: £3,501.81. Renewal: 23rd June 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.
Four of the Lessees as at last year owed £17,776 Service Charge, which has since accrued by a further £3,200. The Landlord is owed approx. £7,000 for Insurance Premiums and £12,000 for Accountancy Fees from the Service Charge. There is around £1,000 in the Service Charge Bank Account.
Section V Notices have not yet been served.
Copy documents: Draft “Final” Lease; Insurance Summary of Cover; Office Copies; Service Charge accounts from 2016 to 2022.
Original Developer Selling
GUIDE PRICE: Offers Invited