Lot 17: FREEHOLD GROUND RENTS

Sold £16,500

An impressive building divided into four flats each sold on a 999 year lease, from 29th September 1967. Flat 1 has a current ground rent of £245 per annum, doubling every 25 years until 2116, the next increase to £490 per annum is due September 2041. Flats 2 and 3 each have a ground rent of £225 per annum – Flat 2 increasing by £75 per annum every 21 years (next increase to £300 due in February 2026) and Flat 3 increasing by £75 per annum every 21 years, increasing to £300 per annum in September 2025. Flat 4 has a current ground rent of £60 per annum.

Auctioneer’s Note

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.