Islington N1 Ground Rents For Sale.

Landlord insures Asking £10,000 + intro fee

• 7 flats in converted pub
• We are selling the freehold that is subject to 1 x 999 year headlease paying peppercorn ground rent on upper parts
• 2 x 125 year leases on ground floor flats paying £250 each. Total £500 per annum
• Landlord insures whole building and recovers from lessees.
• Current insurance premium £3,300 per annum
• Leases available for inspection. Please email us for copies
• Total Current Rent Reserved £500 PA
• Asking price £10,000 + intro fee

Please note that the there are two ground floor flats sold subject to 125 yr leases. The upper floors have been sold off on 1 x 999 year head lease which has 5 underleases for the other 5 flats. The head lease stipulates that the freeholder is responsible for the management and insurance of the whole building.

Headlease pays a peppercorn ground rent

Graham Street Islington, London N1 8LA