A freehold terraced house comprising two flats producing a total ground rental income of £225 per annum, rising throughout the term.
The property is located in a popular, residential area of Walthamstow, East London, close to the town centre with its shopping facilities and public transport.
Flat 65 is sold on a ground lease for a term of 125 years from 20th July 2004, at a current ground rental of £150 per annum, payable for the first 33 years of the term, rising to £300 for a further 33 years and then £600 for the remainder. Flat 67 is sold on a 125-year lease, from 18th July 1997, at a current ground rental of £75 per annum, increasing by £50 per annum every 25 years.
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.