A Freehold Reversionary Ground Rent Investment
This reversionary investment comprises the Ground Rents on 2 retail units, 5 flats and a storage shed. Each of the properties are on 999 year leases at a Ground Rent of £50 per annum which increases by £50 every 25 years, this charge is payable on 1st December each year. There are no fixed maintenance charges but each leaseholder is responsible for one seventh of any repairs and maintenance to the building. The leaseholder of the retail units also pays a total of £970 per annum service charge for cleaning to the rear of the premises, there is no formal agreement to this effect but it has been paid by quarterly invoice for the last 7 years. Total income £1320 per annum.
Tenure
Freehold
Viewing
External Viewings Only
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Local Authority
Babergh District Council. Tel: 01473 826622
Solicitors
Birketts LLP, Brierly Place, New London Road, Chelmsford CM2 0AP, Ref: Beth Grieg, Tel: 01245 211211
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Administration Charge - 0.3% including VAT subject to a minimum of £840.00 including VAT
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.