Lot 103: FREEHOLD GROUND RENT INVESTMENT

Sold £92,000

A freehold block of 26 flats each sold on long leases situated on the corner of Terrace Road and Warrior Square currently producing £920 per annum.

Each of the flats are sold on varying terms from 25th September 1986. Flats 1, 3, 4, 6, 7, 8, 12, 15, 17, 21, 22, 23 and 27 are each sold on 99 year leases at a current ground rental of £40 per annum. Flats 2, 10, 20 and 24 are each sold on 198 year leases at a current ground rental of £40 per annum. Flats 25 and 26 are sold on 149 year leases at a current ground rental of £40 per annum.

Flats 16 and 19 are sold on 128 year leases at current ground rentals of £40 per annum. Flat 14 is sold on a 190 year lease at a current ground rental of £40 per annum. Flat 18 is on a 189 year lease at a current ground rental of £40 per annum. Flat 5 is sold on a 198 year lease at a peppercorn ground rental. Flat 9 is sold on a 128 year lease at a peppercorn ground rental and Flat 11 is sold on a 190 year lease also at a peppercorn ground rental.

Auctioneer’s Note

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