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 annually on 1st December. 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 £1,320 per annum.
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Babergh District Council
Birketts LLP, Brierly Place, New London Road, Chelmsford, CM2 0AP, Ref: Beth Grieg, Tel: 01245 211335
Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £900 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.