Lot 16: FREEHOLD GROUND RENTS

Sold £25,000

A modern detached purpose built block of 16 self-contained flats, all sold on 150 year leases from 25th March 1972 at a current ground rent of £20 per annum, per flat, for the first 50 years, rising to £30 per annum for the second 50 years and £40 per annum for the third 50 years. The leases provide for the freeholder to arrange the maintenance, insurance 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 the legislation.