Lot 106: FREEHOLD GROUND RENTS

Guide Price £12,000 – £15,000 * + Fees
Grounds Rents, Bellhaven, 1 Alexandra Road, Ryde, Isle Of Wight. PO33 1LT

Currently let at £800 per annum

Further information from Clive Emson Auctioneers

01489 564606

Rob Marchant/Mike Marchant

This freehold building comprises four flats each sold on a long lease term of 125 years from March 2016 at a ground rent of £200 per flat, doubling every 20 years from 2036. There are two parking spaces that are not included in any lease and may be let. The freeholder is responsible under the terms of the lease for the management and insurance of the building, which is reclaimed from the lessees via a service charge.

Auctioneer’s Note

Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.

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