Site Information
Freehold
The freehold of the site is believed to be owned by Furatto Limited (Company No. 08939347).
Head Lease
The head lease provides an option for the company to purchase the freehold revision collectively on behalf of leaseholders. This would eliminate ground rent and allow the lease term to be extended (normally to 999 years). The option is available at a "Purchase Price" being the total amount of ground rent payable at the time the option is exercised multiplied by 10. The Sixth Schedule s12 of the lease states that a sum not exceeding 15% of the service charge in any year (excluding this provision) may be charged and collected as a fund for purchasing the freehold of the site.
Agreement for Head Lease
The developer and the company entered into an agreement to produce a head lease.
Leases
The leases run for 150 years from 1 October 2003 with an initial ground rent of £100.00 a year which is increased every 10 years in line with the Retail Price Index. On 1 October 2013 the ground rent increased to £138.04 and is due to next increase in line with the Index of Retail Price Inflation over the ten years to 1 October 2023.
An example of a lease may be found here.
Parking
Fifteen of the apartments have allocated on-site parking. Unfortunetly there is no on-site visitor parking.
Right To Manage (BH RTM COMPANY LIMTED)