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Description

A rarely available opportunity to acquire a Freehold Reversion title of a block containing three apartments (all sold off). This is an opportunity for an investor to acquire the Freehold title benefitting from an annual ground rent income with the added bonus of being able to capitalize on lease extensions at a later date.. Freehold ground rents Investment Opportunity Lease terms: 4A: Previously sold on a long lease of 169 years from 26/04/1991 (139 years remaining) at a current ground rent of £100 per annum rising. 4B: Previously sold on a long lease of 99 years from 28/08/1991 (69 years remaining) at a current ground rent of £30 per annum fixed. 4C: Previously sold on a long lease of 99 years from 19/03/1992 (71 years remaining) at a current ground rent of £30 per annum fixed. Total annual income: £160.00 per annum rising. Section 5 Notices: Section 5 notices were served on all leaseholders on 11th January 2021 and they did not exercise their right to first refusal under the Landlord and Tenant Act 1987. Communal Hallway: Approximately 1.00m x 2.50m Recently decorated with fitted carpets, wall mounted fire detection panel and one emergency light. Access doors to apartments. Viewings: External viewings only. Please note the purchaser will be required to contribute £500 towards the seller's legal fees for this transaction.