Lot 47: FREEHOLD GROUND RENTS

Sold £12,000

An attractive house situated in the West End of Folkestone. The property is divided to provide three flats each sold on a 999 year lease, from 25th March 1960. Flat 1 has a current ground rent of £135 per annum, increasing by £50 per annum every 21 years (next increase to £185 per annum, due March 2022). Flat 2 has a currently ground rent of £5 per annum while Flat 3 has a current ground rent of £185 per annum.

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.