TENURE: We are advised by the sellers solicitors of the following:
Term: 999 years commencing on and including 1st January 2025.
Rent: One Peppercorn fixed for the term
Freehold : to be transferred to 109 Locking Road Management Company Limited on the grant of the lease of the final flat – each flat owner will have a share in the Management Company. The Management Company has already been set up by the Sellers at their expense with three shares being issued. On sale, the share in the new management company attributable to the flat will be transferred to the new owner. The cost of the set up will not be charged down under the service charge. I have suggested that the sellers instruct a Block Management Company now especially if you think this will help the marketing.
Service Charge: 45% flat 1, 30% flat 2 and 25% flat 3 of which the insurance contribution is presently £45 flat 1 £30 flat 2 and £25 flat 3 per month. All works carried out to date by the sellers will not be charged down as service charge so the there will be a clean slate going forward. No other expenditure is envisaged at present.
Parking: designated parking at the front, Flat 1 has two spaces the other flats have one each.
Common areas: frontage and entrance vestibule, meters are by the front door
Council Tax Band : A
Avery directors; Sarah Tyson, Robert Tyson and Daren Podbury, launched Avery Estate Agents in 1988. Sarah and Daren; two very enthusiastic, well-trained estate agents, alongside Robert; a well-respected entrepreneur within local business, had decided the time was right to open their own Estate Agency.
