Lot 47: FREEHOLD GROUND RENTS

Sold £16,000

A mid-terrace property converted into two units.

Flat A has been sold on a 99 year lease, from 28th November 2005, at a current ground rent of £195 per annum, increasing by £75 every 21 years. The next increase is due in June 2026 to £270.

Flat B is sold on a 99 year lease, from 3rd December 2012, at a current ground rent of £295 per annum, increasing by £125 every 21 years. The next increase is due in June 2033 to £420.

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.