A mid-terrace property divided into two maisonettes, each sold on 125 year leases from 2nd June 2015. The upper maisonette (No. 11A) has a current ground rental of £250 per annum, doubling on 31st March 2040 and every 25 years thereafter. The lower maisonette (No. 11) has a current ground rental of £250 per annum doubling every 25 years.
We understand the leases provide for the freeholder to insure, maintain and manage the building, recouping the costs from the leaseholders by way of a service charge.
Section 5(b) Notices under the Landlord & Tenant Act 1987 (as amended) have been served on the leaseholders who have not reserved their rights under the legislation.