Lot 94: FREEHOLD GROUND RENTS

Sold £6,351

This town centre building has been converted into three self-contained flats with two of the flats having subsequently extended their original lease term and now subject to leases of 999 years, from January 2019, at a ground rent of £25 per flat, per annum.

Flat 2 is still occupied under the terms of the original 99 year lease, from 6th March 1989 1989, also at a ground rent of £25 per annum.

The freeholder is responsible for insurance and management of the building, reclaiming the costs from the flat owners 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.