Lot 52: GROUND RENTS

Withdrawn After

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.