A freehold terrace block divided into three flats, all sold on long leases. Flat 1 has been sold on a 125 year lease from 4th November 2016, at a ground rent of £25 per annum. Flat 2 has been sold on a 189 year lease from 25th March 1980, at a ground rent of £250. Flat 3 has been sold on a 125 year lease from 31st January 2018, at a ground rent of £250 per annum.
We understand the freeholder insures, maintains and manages the block, recouping the costs from the leaseholders by way of a service charge.
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.