A pair of flats situated in the centre of Portsmouth. Each flat is sold on a 125-year lease, from 11th November 2004, with a ground rent of £150 per flat per annum currently payable. The ground rent increases at 25-yearly intervals throughout the lease term.
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.
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 this legislation.