Option to purchase headlease will not now be taken up

Leaseholders at Hebble Wharf have withdrawn their acceptance of the offer to purchase the headlease on Hebble Wharf, following news that the income from ground rents would be substantially less than anticipated.

According to information supplied by the vendor’s solicitors, it transpired that there would be no ground rent income from about 25% of apartments which were sold last year ‘en bloc’ with 998 year leases (instead of the usual 250 year lease) but with only a peppercorn ground rent payable.

A majority of the leaseholders decided that the investment required was no longer viable.

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