A freehold block of 15 flats and 14 garages, all sold on long leases.
Garages (Total £127.75 per annum)
14 Garages all of which are sold on individual 999 year leases from 25 March 1959. 11 garages each at a current ground rental of 25 Pence per annum. Garage 9 and Garage 14 each have a current ground rental of £50 per annum, increasing by £50 every 21 years, next increase to £100 due 25 March 2041. Garage 12 has a current ground rental of £25 per annum, increasing by £10 every 21 years (until 25 March 2092), next increase to £35 due 25 March 2029.
We understand the freeholder insures, maintains and manages the block, recouping the costs from the leaseholders by way of service charge.
Section 5(b) Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.