TENURE: The property is Freehold however the vendors have approached a solicitor and has given instructions for the property to be set up under leasehold. The solicitors have advised that the Leases will be set as follows:
A 999 year Lease with a peppercorn rent. As there will be 3 flats, the freehold will be transferred to a Management Company upon the grant of the last lease. Each flat owner will have a share in that Management Company. There will be a service charge provision for insurance and maintenance. 45% for the larger flat, 30% for the next biggest and 25% for the smallest of the 3 flats.
Council Tax Band : A