Seven Apartments in a modern Development
sold on 125-year Leases from 1st September 2016
at a combined (rising) ground rent of 2,100 per annum
The Ground Rents double every forty years.
The Landlord Covenants to Insure recovering the Premium AS ADDITIONAL RENT
Sum Insured: £4,224,295. Premium: £7,793.34. Renewal: 31st July 2023
A Lessee owned Management Company manages the Development.
The Insurance is currently placed by the Lessee owned Management Company in four Policies.
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.
Copy documents: Executed Lease; Four Insurance Summaries of Cover; Service Charge Budget 2019.
Original Developer Selling
GUIDE PRICE £40,000