Lot 84

FREEHOLD GROUND RENTS

Ground Rents, 65 Wear Bay Crescent, Folkestone, Kent, CT19 6BA
Ground Rents, 65 Wear Bay Crescent, Folkestone, Kent, CT19 6BA
Withdrawn After

Currently let at £625 per annum

A mid-terrace property divided to provide three flats.

Flat A has been sold on a 125 year lease, from 1st August 2014, at a current ground rent of £275 per annum, increasing by £75 every 21 years (the next increase to £350 per annum is due August 2035). Flat B has been sold on a 99 year lease, from 29th September 1977, at a current ground rent of £75 per annum, subject to review every 20 years to one-third of the letting value of the site of the building, but subject to two-thirds rateable value cap. Flat C has been sold on a 99 year lease, from 23rd March 2011, at a current ground rent of £275 per annum, increasing to £325 per annum in June 2024, rising to £400 per annum in March 2032 and then increasing by a further £50 per annum on every 21st anniversary of June 2024 and by a further £75 per annum on every 21st anniversary of March 2032.

The leases provide for the freeholder to insure, maintain and manage the block recovering the cost from the leaseholders by way of a service charge.

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 the legislation.

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

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