A Head Leasehold Ground Rent Investment Secured Upon a Substantial Mid-Terrace Building Producing £2,000 per annum.

The property comprises a head leasehold ground rent investment secured upon 8 self-contained flats (all sold off).

Tenure

Head Leasehold. The property is held on a 250 year lease from 22nd February 2021 (thus approximately 248 years unexpired) at a peppercorn ground rent.

By Order of the LPA Receivers

Location

The property is situated in Bath City Centre close to local shops and amenities. The open spaces of Parade Gardens are within easy reach. Transport links are provided by Bath Spa rail station.

Tenancy

The ground rent for each unit is subject to review in line with RPI on each 25th anniversary of the term commencement date (being 21st February 2021).

The provisions of the Landlord and Tenant Act 1987 apply to the proposed disposal and notices under S5(b) of that Act have been served.

Further Information

A Ground Rent is a nominal annual rent paid by the leaseholder to the freeholder. When you purchase a ground rent investment you are purchasing the rights to the ground rent income, not the flats themselves. When the lease terms become low, the freeholder can charge each lessee a premium for extending their lease. Further income can be derived when the freeholder has the right to manage and insure the building.

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.