Lot 17: FREEHOLD GROUND RENTS

Sold £26,000

A property converted to provide three self-contained flats.

Flat A has been sold on a 99 year lease, from 29th December 1973, at a current ground rental of £60 per annum with a ground rent increase of £30 every 25 years – the next increase is due December 2023 to £90 per annum.

Flat B has been sold on a 99 year lease, from 14th August 2017, at a current ground rental of £245 per annum. The ground rent increases by £245 every 21 years and the next increase is due June 2038 to £490 per annum.

Flat C has been sold on a long lease, from 16th May 2012, to 28th December 2162 at a current ground rental of £195 per annum – the ground rent increases by £100 every 21 years with the next increase due in June 2032 to £295 per
annum.

The leases provide for the freeholder to insure and repair 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.