A mid-terrace property arranged as five self contained flats all sold on long leases. The lower ground floor flat, second floor flat and third floor flat have been sold on 99 year leases from 19th April 1985 each with a current ground rental of £50 per annum.
The ground floor flat and first floor flat have been sold on 189 year leases from 19th April 1985 each with a current ground rental of £75 per annum.
We understand that the freeholder is responsible for maintenance, management and insurance of the building, recovering the cost from the leaseholders by way of a service charge.
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.