GROUND RENT FREEHOLD INVESTMENT - 17 Old Village Road, Barry - The lot comprises the Freehold Ground Rent Interest that is secured upon an attractive bay-fronted period property, which is subject to the terms and remainder of a 999-year lease which commenced on the 2nd February 1906. The property produces a yearly ground rent of £3pa (every year) and the leasehold tenant occupier is responsible for all repairs, decorations, and insuring the property throughout the lease term. External Viewings Only. Buyers must not disturb the leasehold owner-occupiers in any way by trespassing and trying to visit the inside of the property. Only the freehold ground rent interest is being sold which is subject to the long leaseholder 999 year lease as described in these details. Please be advised that the seller has received a notice dated 20th December 2022 from the current long leaseholders solicitors made under the Leasehold Reform Act 1967 to enfranchise the freehold ground rent interest. The property will now be sold at auction subject to the terms of the notice to enfranchise and the auction buyer will therefore be required to comply with and reply to the notice to enfranchise within 2 months from 20 December 2022 and the buyer is to take over all negotiations (at his own costs) after completion of his auction purchase .Tenure: See Legal Pack

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.