Lot 46: FREEHOLD GROUND RENTS

Sold £26,000

A mid-terrace house converted to provide two self-contained units.

Flat A (ground floor flat) has been sold on a 125 year lease, from 25th November 2014, at a current ground rent of £275 per annum. The ground rent increases by £125 every 21 years, the next increase to £400 being in November 2035.

Flat B (first and second floor maisonette) has been sold on a 99 year lease, from 25th March 1981, at a current ground rent of £60 per annum. The ground rent increases by £30 every 21 years, the next increase, to £90, is due March 2031.

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 reserve their rights under the legislation.