A detached three storey property arranged as five self-contained flats all sold on long leases. Three of the flats have been sold on 99-year leases, from 1st January 1990 at a current ground rental of £25 per annum each. The remaining two leases have been sold on 125-year leases, from
22nd June 2020 at a current ground rental of £250 per annum each.
We understand the freeholder is responsible for maintenance, management and insurance of the building, recovering the cost from the leaseholders by way of a service charge.
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.