Lot 41: FREEHOLD GROUND RENTS

Sold £6,500

A semi-detached property divided into two flats, Flat A having been sold on a 125 year lease, from 24th August 2015, at a current ground rental of £350 per annum. The ground rent doubles every 25 years with the next increase to £700 per annum in March 2040. Flat 8 (known as Flat 8b) has been sold on a 189 year lease, from 24th March 1983, at a peppercorn ground rental.

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 not reserved their rights under the legislation.