Lot 7: HEAD LEASEHOLD INTEREST

Sold £5,750

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.