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Lot: 40 - FREEHOLD GROUND RENTS - Three storey block of flats

Lot 40 Freehold Ground RentsAuction Date:
1st May 2024

Ground Rents, 3 Tonge Road, Sittingbourne, Kent, ME10 3NN


Currently let at £525 per annum

Category Ground Rents
Tenure Freehold

A freehold ground rent investment comprising three flats. Flat 1 has been sold on a 125-year lease, from 1st January 2009 and Flats 2 & 3 have been sold on 125-year leases from 1st January 2008 each at a current ground rent of £175 per annum, rising by £175 per annum every 25 years.

We understand the Seller insures the building but does not currently have a service charge in place.

Auctioneer's Note

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.

Ground Rents, 3 Tonge Road, Sittingbourne, Kent

There is an addendum available to be read
in conjunction with the legal documentation.

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