Lot 78: FREEHOLD GROUND RENTS

Sold £12,000

A freehold block situated in Crowborough town centre, converted to provide seven self-contained flats, each sold on a long lease for a term of 125 years from 1st June 2012 at a current ground rental of £125 per flat per annum.

We have been informed by the Seller’s solicitor that the freehold is being sold subject to the lease for Flat 1B pending registration at Land Registry and a lease for Flat 1A which will have been granted in the form of the draft lease included within the legal pack.

The freeholder is responsible under the terms of the lease for the management and insurance of the building which is reclaimed from the lessee 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.