Lot 101: FREEHOLD GROUND RENTS

Postponed

A purpose-built block of seven flats, situated close to the centre of Cowes. Each flat is sold on a 125 year lease from 1st October 2011, at a peppercorn ground rent.

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/insurance rent.

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 this legislation.