149 County Road Management Limited

Leases

The four leases run for 999 years from 6 August 2014 with a annual ground rents of £50 each. One each 21st year anniversary the rent should be reviewed so that it becomes  1/1000th of the value of a flat if sold on the open market with a 999 year lease on the assumption that the flat and the Estate are in good and complete repair. The next ground rent review is due on 6 August 2035. In accordance with clause 3.2 of the lease service charges are due half-yearly on 1 January and 1 July with interest payable on overdue payments at 12% per annum (fourth schedule clause 2).