A freehold town centre building divided into three flats each sold on a long lease.
Flat 1 is sold on a 151-year lease, from 25th March 1988 at a current ground rent of £100 per annum, increasing by £25 every 25 years until reaching £150; Flat 2 is sold on a 189-year lease from 25th March 1988 at a peppercorn ground rent and Flat 3 is sold on a 127-year lease from 25th March 1988 at a current ground rent of £100 per annum, increasing by £25 every 25 years until reaching £150.
Auctioneer's Note
Section 5(B) Notices under the Landlord and Tenant Act 1987 (as amended) have been served and the leaseholders have reserved their rights under the legislation.