A freehold block of three flats, all sold on 999 year leases from 25th March 1960.
Flat 1(A) has a current ground rental of £125 per annum and increases by £65 every 21 years. The next increase to £190 per annum is due on 25th March 2038; Flat 2 has a current ground rental of £5 per annum and Flat 3 has a current ground rental of £245 per annum which doubles every 21 years until 2123. The next increase to £490 per annum is due on 26th March 2039.
We understand the freeholder insures, maintains and manages the block, recovering the cost from the leaseholders by way of a service charge.
Section 5(b) Notices under the Landlord and Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under this legislation.