Lot 67: FREEHOLD GROUND RENTS

Sold £23,000

An attractive corner block converted into seven flats, four of which have been sold on 99 year leases, from 1st December 1992, at a current ground rental of £75 per annum each rising throughout the term. One flat has been sold on a 189 year lease, from 1st December 1992, at a ground rental of £75 per annum rising throughout the term and a further two have been sold on year leases expiring in 2170, at a current ground rental of £150 per annum.

We understand the freeholder maintains and insures the building and recovers the costs from the leaseholders by way of 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 under the legislation.