Fourteen Apartments in a modern Development
sold on 125-year Leases from 1st January 2007
at a combined (rising) ground rent of £1,400 per annum
The Ground Rents rise by £50 every 25 years.
THE NEXT REVIEW IS DUE IN NINE YEARS
The Landlord Insures, Manages and recovers all costs.
Sum Insured: £1,920,526. Premium: £1,301.18. Renewal: 29th September 2023
A Lessee owned Management Company stipulated in the Lease is dissolved.
One Lease Varied for a Premium of £2,000.
There is opportunity for the Landlord to generate additional premium income in the rectification of defective lease provisions (defective in the Landlord’s favour), that Leaseholder Solicitors (when becoming aware of the lease defect) are obliged to notify such defect to any Lender who, in turn, will often require that the defect is rectified.
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 Lease; Office Copy Entry; Deed of Variation; Insurance Summary of Cover; Explanation of Lease Defect.
GUIDE PRICE £30,000