Lot 144: FREEHOLD GROUND RENTS

Sold £6,500

A pair of purpose-built flats, each sold on a ground lease for a term of 125 years from 1st January 2018, with the ground floor flat (9) at a current ground rental of £148 per annum, and the upper flat (9A) occupying the first and second floors at a current ground rental of £229 per annum. Both leases allow for increases in the ground rent by RPI every five years of the term.

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

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 this legislation.