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Tenure & ProposalTenureA single new long leasehold interest is being offered for sale,with a supplemental development agreement requiring the purchaser to build the consented scheme. The principal lease terms as follows: TermNew 125 year lease from The Portman Estate Ground RentOffices - 12.5% of office rents receivable (exclusive). Residential£7,500 per annum for the six residential flats, doubling every 20 years. The ground rents become payable from practical completion of the development. |