This modern purpose-built block of apartments is situated close to the Mountbatten Centre on the western fringes of the City of Portsmouth. The block comprises 14 flats, each sold under the terms of a long lease from 1st September 2006 at a current ground rental of £60 per annum, a sum which doubles every 25th anniversary of the lease.
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.
Auctioneer's Note
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.