201/203 Southend Arterial Road, Hornchurch, Essex, RM11 2SF
FREEHOLD GROUND RENT INVESTMENT -
Guide price: £8,000 - £9,000*
Tuesday, 5th December 2017 11:00am
Location & Description
A semi-detached property comprising two maisonettes on the north side of the Southend Arterial Road (A127) and about ¾ mile from Gallows Corner which connects with the A12.
No. 201: 99 years from 01.12.2001 (83 years unexpired) at a current ground rent of £185 p.a. Reviewed on every sale of the leasehold interest to 0.1% of the purchase price paid.
No. 203: 99 years from 01.12.2001 (83 years unexpired) at a current ground rent of £87 p.a. Reviewed on every sale of the leasehold interest to 0.1% of the purchase price paid.
EQUIVALENT TO £272 p.a. WITH BOTH MAISONETTTES HAVING ABOUT 83 YEARS UNEXPIRED
There are arrears relating to ground rent/insurance premiums totalling £965 for No. 201 and £1,350.68 for No. 203. No. 203 - The deed of variation shows the ground rent as £80 p.a. but understand the lessee has been charged and been paying £87 p.a. since 2007.