Lot 7: HEAD LEASEHOLD INTEREST

Guide Price £5,000 – £7,000 * + Fees
Ground Rents, 20 John Street, Ryde, Isle Of Wight. PO33 2PY

Currently let at £380 per annum

Further information from Clive Emson Auctioneers

01489 564606

Rob Marchant/Mike Marchant

Held under a long lease for a term of 990 years from 1845, this building comprises four flats each sold on varying long lease terms.

Flat 1 has been sold under the terms of a 99 year lease, from April 2015, at a ground rent of £200 per annum (doubling every 20 years) and the three remaining flats are each held on 125 year lease terms with start dates ranging from May 2002 to October 2006, each paying £60 per annum ground rent.

The long leaseholder is responsible under the terms of the leases for the management and insurance of the building, which is recovered from the lessees by way of 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.