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G111: Great George Street, Leeds, West Yorkshire LS1

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This Head Lease of ninety-two Apartments in a superb eleven-storey Development

with a Church Meeting Building attached at ground floor level,

 

are sold on 150-year Leases from 28th October 2004,

at a combined (rising) ground rent of £13,800 per annum.

The Ground Rents will double in 30 years and rise by £13,800 50 years later.

 

Our Head Lease Landlord Insures and Manages the entire Development.

Sum insured: £26,595,939. Premium: £134,822.49. Renewal Date: 21st December 2024.

 

At a Peppercorn Rent to The Church, our Freeholder,

our Head Lease being held on a, somewhat of a passive, 150-year  Lease,

with one proactive  Covenanted demand covering any Building works,

requiring our Head Lease to seek written consent from The Church prior to any such alteration,

and with one reactive Covenant, only activated if The Church so request,

for our Head Lease to evidence Insurance, with their Summary of Cover.

 

Our Head Lease Landlord owns everything above the ceilings, below the floors and the building envelope,

and can develop as they see fit, subject to the prior consent from The Church.

 

The Apartment Lessees cannot alter their Demise without the written consent of their Landlord, our Head Lease.

 

To comply with the modern method of our Parliament’s Guide,

Signed Off as Officially Approved, for two decades Compliant,

the original Cladding, has recently been removed,

and now, complying with that modern method of our Parliament’s Guide,

this spectacular Development has, once again, been Signed Off as Officially Approved,

with the latest required format of the Fire Risk Assessment, dutifully concluded.

 

The Lessees did not respond to the Section V Notices, which are valid to Transfer Title under until 12th July 2024,

 

THUS, THIS INVESTMENT IS IMMEDIATYELY AVAILABLE,

 

WITH AN ATTRACTIVE GUIDE PRICE OF: £285,000

 

Copy documents held:

-Executed Church Lease.

-Executed Apartment Lease.

-Insurance Summary of Cover.

-Budgets and Accounts.

-Health & Safety Fire Report.

-OCE’s & Plans.

-One specimen Section V Notice & proof of postage.

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