Thirteen Apartments plus a Development Lease to the rear in a modern Development
The Apartments sold on 125-year Leases from 1st July 2001
Land at rear Lease sold is for 999 years from 2nd November 2015
at a combined (rising) ground rent of (£1,625 + £600 =) £2,225 per annum
The Apartment Rents increase by £25 every 25 years increasing by £325 in July 2026.
The Land at Rear Ground Rent is fixed throughout the Term.
The Lease to the Rear sits with Planning for four Apartments. The Lessee has not paid their £600 Ground Rent for last two years and no Service Charge since Inception in 2015 now totalling £2,010.54
The Landlord Insures, Manages and recovers all costs AS ADDITIONAL RENT
Sum Insured: £1,985,029. Premium: £11,138.69 Renewal: 31st March 2023
The Landlord owns everything above the ceilings, below the floors and the building envelope
and can Develop as they see fit.
Section V Notices have not yet been served.
Copy documents: Executed Apartment and Land at Rear Leases; Rear Land Debtor’s Summary; Office Copy Entry; Insurance Summary of Cover
GUIDE PRICE £50,000