Lot 188 - This lot is for sale by auction as lot 188 on Thursday 19th July 2018.
A Freehold Ground Rent Investment secured upon a Detached Building arranged to provide Seven Self-Contained Flats
Location The property is located on the east side of Callis Road, to the north of its junction with Lindenthorpe Road. Local shops and amenities are available along The High Street (A255). Broadstairs Rail Station is approximately 0.5 miles to the south-east and the open space of St Peters Recreation Ground are within close proximity.
Description The property comprises a ground rent investment secured upon a detached building internally arranged to provide seven self-contained flats and seven car parking spaces.
Tenancies Each flat is subject to a lease for a term of 99 years from 1st January 2004 (thus having approximately 85 years unexpired) at a current ground rent of £150 per annum (rising).
Rights of Pre-emption The lessees have elected to take up their rights of pre-emption under the terms of the Landlord and Tenant Act 1987.
Management and Insurance The Freeholder has the right to manage and insure.
Total Current Rent Reserved £1,050 per annum.
Review Date 2029
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