Albermarle Road, Kent, BR3 5UF

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Property Summary

Built circa 1977, 6 blocks of 51 flats and garages, all subject to a Head Lease over the entire property and grounds and managed by Penton Management Company (owned by all Leaseholders).

Head Lease Terms & Current Rental Income 125 years from 25 December 1977. Current rent is £1,380. Rent rising every 33 years to £1,890, then £3546. The next review is in 2043 = 18 years time. There are 51 years remaining.

Under Leases Originally 99 from 25/12/1977 (less 10 days). All flats have been extended over the years for an additonal 90 years, however the following flats remain on their original terms, now 51 years remaining. There are 9 short lease flats:-

Penrith Close - Flats 16, 18, 19, 21
Sutton Close - Flats 2, 15, 21, 25, 27

Notes Copies of FH/LH OCE, Head Lease/Sub-Lease available upon request.

lot type

Ground Rents

private treaty - sale status

New 2025

type

Freehold Ground Rent Investment, producing £1380 (rising)

description

Built circa 1977, 6 blocks of 51 flats and garages, all subject to a Head Lease over the entire property and grounds and managed by Penton Management Company (owned by all Leaseholders).

Head Lease Terms & Current Rental Income 125 years from 25 December 1977. Current rent is £1,380. Rent rising every 33 years to £1,890, then £3546. The next review is in 2043 = 18 years time. There are 51 years remaining.

Under Leases Originally 99 from 25/12/1977 (less 10 days). All flats have been extended over the years for an additonal 90 years, however the following flats remain on their original terms, now 51 years remaining. There are 9 short lease flats:-

Penrith Close - Flats 16, 18, 19, 21
Sutton Close - Flats 2, 15, 21, 25, 27

Notes Copies of FH/LH OCE, Head Lease/Sub-Lease available upon request.