Lot 52: GROUND RENTS

Guide Price £18,000 – £20,000 * + Fees
Ground Rents, Bedford Lodge, 26 St Johns Road, Ryde, Isle Of Wight. PO33 2RN

Currently let at £700 per annum

Further information from Clive Emson Auctioneers

01489 564606

Mike Marchant/Rob Marchant

Held under a long lease on a term of 999 years from 1860, this building comprises four flats, each sold on varying long lease terms. The first floor flat has been sold under the terms of a 99 year lease from March 1987 at a ground rent of £200 per annum. The basement and ground floor flats are sold under the terms of 125 year leases from April 2012, at a ground rent of £200 per annum per flat (doubling every 25 years). The second floor flat sold under the terms of a 500 year lease from April 2012 at a current ground rent of £100 per annum.

The long leaseholder is responsible under the terms of the leases 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.

Map

Loading…

The map and satellite images are based on postcode information and are available for directions only. They may not necessarily show the exact lot being offered, but will be in close proximity. Please refer to the sale plan in the legal documentation for precise details of the lot to be sold.