Lot 21: FREEHOLD GROUND RENTS

Situated in Sandgate High Street, which lies on the western side of Folkestone, is this freehold property which is divided to provide three flats. Flat 1 has been sold on a 99 year lease, from 28th February 1983, at a current ground rent of £75 per annum. Flat 2 has been sold on a 99 year lease, from 1st December 1983, at a current ground rent of £100 per annum and Flat 3(b), has been sold on a 189 year lease, from 6th December 1983, at a current ground rent of £295 per annum. The ground rent increases by £175 every 21 years with the next increase to £470 per annum, due in December 2038.

The leases provide for the freeholder to insure, maintain and manage the block recovering the cost 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 reserved their rights under the legislation.