Sold £27,000

A purpose-built block of nine apartments, each sold on a ground lease for a term of 125 years from 1st January 2009, at a current ground rental of £175 per flat per annum, and reviewed on 1st January 2034 and every 25th year following.

The leases provide for the freeholder to arrange the maintenance, management and insurance of the building, recovering the costs from the leaseholders by way of a service charge.

Auctioneer’s Note

Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have reserved their rights under the legislation.