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G158: Grays Inn Road, Bloomsbury South, London, WC1X

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Company Sale Available

 

THE FREEHOLD REVERSIONARY INTEREST OF 

 

Four Apartments above a Commercial Unit in a five storey late Victorian Corner Development.

 

The four Apartments (one on each floor) are sold on 125-year leases from 25th June 1999

at a combined ground rent of £2,000 per annum.

 increasing by £250 per flat every twenty-five years, now into the second review.

 

The Commercial Clothing Retailer Unit is sold on a 999-year lease from 2009

at a fixed rent of £250 per annum.

 

THIS FREEHOLD is producing a combined (predominantly rising) ground rent of £2,250 per annum.

 

 This unit occupies more than 25% of the floor space, thus the Leaseholders cannot enfranchise.

 

The Landlord Insures, Manages and recovers costs as ADDITIONAL RENT.

Sum Insured: £2,623,973; Premium: £3,460.59. Renewal Date: 26th June 2024.

 

The Lessees cannot make any alterations without the prior written consent of the Landlord.

 

The Vendor has advised GRB that there are no significant arrears.

 

Section V Notices are not required if the Company is acquired

 

GUIDE PRICE: £55,000

 

Copy documents held:

Executed Apartment Lease,

Executed commercial Lease.

Insurance Summary of Cover plus Policy Wording;

OCE Title & Plan.

Mem & Arts of Company.

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