A block of six flats and one commercial unit situated in the centre of Totton, a short drive from Southampton. Each flat is sold on a 125 year lease, from 22nd July 2008, at a ground rent of £50 per annum. The commercial unit is sold under a 999 year lease from 17th September 2008 but with no ground rent payable.
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.
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.