Lot 11: FREEHOLD GROUND RENTS

Sold £58,000

Kingsnorth Court comprises two blocks of six flats situated in good size grounds and all sold on 999 year leases from 25th March 1965. Eight flats have a current ground rental of £65 per annum; three have ground rents of £11 per annum and one has a ground rent of £10 per annum. Garage 8 has been sold on a 999 year lease from 25th March 1965 at a peppercorn ground rental.

We understand the freeholder is responsible for the maintenance, management and insurance of the buildings, recovering the costs from the leaseholders by way of a service charge.

It is considered there may future potential for development to the rear of the blocks, subject to all necessary consents being obtainable.

Local Planning Authority

Folkestone & Hythe District Council. Tel: 01303 853278. Website: folkestone-hythe.gov.uk.

Auctioneer’s Note

Section 5(b) Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have reserved their rights under the legislation.