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G012: Treetop Close, Luton, Bedfordshire LU2

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SO MUCH IN THIS ONE ESTATE

THIS IS A HIGH VALUE MANAGEMENT NET

 

 

with 28 imminent Open Market Value Reviews left

after one Review has just been varied

paying a £9,425 Premium to our Landlord

 

 

an extra Apartment opportunity

mimicking identical adjoining building’s conversion of their gym

 

 

 

Twenty-nine Apartments AND One Gymnasium in two three storey detached buildings,

 

sold on 199-year Leases from 1st June 2006

at a combined (rising) ground rent of £4,200 per annum

 

with now twenty-eight of the Rents reviewed every 25 years to 0.15% of the OPEN MARKET VALUE

 

A CONSERVATIVE ESTIMATION OF 0.15% OF TODAY’S SAD VALUES WOULD BE £9,425.25 per year,

 

WITH OUR NEXT REVIEW UPON US IN EIGHT YEARS.

 

LAST NOVEMBER ONE REVIEW WAS VARIED TO A PEPPERCORN FOR A PREMIUM OF £9,263.

 

POTENTIAL ADDITION APARTMENT in THE GYMNASIUM in Block A is held on an individual Lease on ground floor.

Block B’s similar gymnasium was converted to a one bed Apartment (planning 2010).

 

The Landlord Insures, Manages and recovers all costs AS ADDITIONAL RENT

Sum Insured: £3,926,746. Premium: £9,454.85. Renewal: 1st March 2024.

 

The Landlord owns everything above the ceilings, below the floors and the building envelope,

and can Develop as they see fit.

 

The Lessees cannot alter their premises without the consent of the Landlord.

 

Section V Notices have not yet been served.

 

Copy documents held:

 

A detailed Schedule showing what the Reviews would be at today’s Apartment Values.

Deed of Variation replacing Open Market Review with a Peppercorn Rent.

 

Executed Leases to Blocks A and B.

Office Copy Entries & Plans.

Insurance Summary of Cover.

Photo Gallery.

 

Executed Lease to Block B’s converted Gymnasium.

Executed Lease to our Block A’s Gymnasium.

Information sheet on the gymnasium.

 

GUIDE PRICE: OFFERS INVITED

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