Lot 14: FREEHOLD GROUND RENTS

Sold £60,000

A residential development comprising three blocks of maisonettes (four units in each), together with driveway and garages, situated on a corner plot. Each flat has been sold on a ground lease as follows:-

Two maisonettes (numbers 3 and 7) sold on original lease term of 99 years, from 25th March 1961, at a ground rental of £10.50 per annum.

Seven maisonettes (numbers 1, 2, 5, 9, 10, 11 and 12), have terms of 99 years, from 25th March 2001, at a current ground rental of £80 per annum rising to £160 per annum and £320 per annum after each 33 year period

Maisonette number 8 has a term of 131 years, from 25th March 1961, at a peppercorn ground rental and maisonette numbers 4 and 6 each have a term of 170 years, from 25th March 2001, at a peppercorn ground rental.

There is a car parking area, with a right of way in front of the garage to 1 High Street which has a ground lease of 99 years, from 25th March 1961, at a ground rental of £1 per annum.

Auctioneer’s Note

Section 5(b) Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.