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069 |
| GROUND RENTS, 14 HOUSES, ST JOHNS ROAD, HEYSHAM, MORECOMBE, LANCASHIRE, LA3 1EX |
Guide: £180,000 - £200,000 |
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FREEHOLD GROUND RENTS
On the instructions of the Joint Administrator - Currently Let At:£14,560 Per Annum
A modern development of fourteen houses in St Johns Road, Heysham, each sold on 999 year leases from 1st January 2008 at a current ground rental of £1,040 per annum (payable monthly), thus producing £14,560 per annum in total.
Ground rent reviews are due on 1st April each year with an increase in line with any increase in the RPI plus 0.5% of the then basic rent over a period similar to that between the start date and the review dates using the latest figures published before the rent review date.
The basic rent will increase by 0.5% only if the RPI has fallen or not increased. The full terms and conditions of the rent reviews are contained within the lease, a copy of which is available for inspection at the Auctioneer’s Office.
Each leaseholder insures, maintains and repairs their own property at their own expense, but the freeholder is responsible for the maintenance and management of the communal parts including visitor parking spaces, bin area and grassed areas at the expense of the leaseholders.
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