A corner block of five flats situated in the Dorset village of Wyke Regis. Each flat is sold on a 125-year lease, from the 1st January 2016. Flats two, three, four and five each pay an annual ground rent of £225 per annum with flat one paying £92.50. We understand the leases provide for the freeholder to insure, maintain and manage the building, recovering the costs from the leaseholders by way of a service charge.
Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under this legislation.