Lot 113: FREEHOLD GROUND RENTS

Sold £3,750

A block of five flats, situated close to the centre of Ryde. Each flat is sold on a 500 year lease, from 24th June 1988, at a ground rent of £25 per annum.

We understand the freeholder is responsible for the maintenance, management and insurance of the building, recovering the costs from the leaseholders by way of a service charge/insurance rent.

Auctioneer’s Note

Section 5(b) Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under this legislation.