Lot 8: FREEHOLD GROUND RENTS

Sold £17,000

A semi-detached property converted to four self-contained flats. The basement flat is sold on a 125 year lease, from 18th August 2004, at a current ground rental of £125 per annum, increasing by 25% every 10 years. The ground and first floor flats are each sold on 125 year leases, from 20th February 2015, at a current ground rental of £200 per annum, rising by 25% every 10 years. The second floor flat is sold on 125 year lease, from 21st March 2014, at a ground rental of £200 per annum, rising by 25% every 10 years.

The leases provide for the Freeholder to arrange maintenance, insurance and management of the property and recover the costs through 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.