Highgrove Mews, Grays, RM1 6XD

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Property Summary

A modern block on 4 main floors comprising 36 flats.

As part of the Estate, there are 20 Freehold houses producing £5pa each property by way of a fixed rent charge.

Leases 125 years from 24 June 1993. 1 Flat extended at peppercorn rent

Ground Rent Review Clause Originally £50pa per flat reviewed 24 June 2018 and every 25 years to 1/800th of capital value on basis of 125 year lease term.
The current rent payable is £200.04 per flat.
Next review in 20 years.
Last recorded sales in block:-
Flat 41 - 1 Bed; £197,000 - March 2023
Flat 30 - 2 Bed; £223,000 - September 2022

Notes 1. Freeholder Manages and Insures
2. Subject to Section 5a Notices being served
3. All leases available upon request
4. Sole Agents
5. The Managing Agents are DMG who have managed for 17 years and would be happy to continue

private treaty - sale status

Under Offer 2024

type

Freehold Ground Rent Investment, producing £7,101pa

description

A modern block on 4 main floors comprising 36 flats.

As part of the Estate, there are 20 Freehold houses producing £5pa each property by way of a fixed rent charge.

Leases 125 years from 24 June 1993. 1 Flat extended at peppercorn rent

Ground Rent Review Clause Originally £50pa per flat reviewed 24 June 2018 and every 25 years to 1/800th of capital value on basis of 125 year lease term.
The current rent payable is £200.04 per flat.
Next review in 20 years.
Last recorded sales in block:-
Flat 41 - 1 Bed; £197,000 - March 2023
Flat 30 - 2 Bed; £223,000 - September 2022

Notes 1. Freeholder Manages and Insures
2. Subject to Section 5a Notices being served
3. All leases available upon request
4. Sole Agents
5. The Managing Agents are DMG who have managed for 17 years and would be happy to continue