Guide Price = **£100,000+
For Sale By Public Auction 12th February 2025 09:30 AM To inspect the legal documents for this property go to our website to download the legal pack
A Vacant Second Floor Two Bedroom Flat
**Tenure
Leasehold. The property is held on a 99 year lease from 25th December 1979 (thus approximately 54 years unexpired). A section 42 notice to extend the lease will be served prior to completion, the rights of which would be assigned to the incoming buyer.
Location
The property is situated on a residential road close to local shops and amenities. The open spaces of Napsbury Park are within easy reach. Transport links are provided by Park Street rail station and the M25.
Description
The property comprises a second floor two bedroom flat situated within a purpose built block arranging over ground and two upper floors. The property requires a program of refurbishment.
Accommodation
Second Floor
Reception Room/Kitchen
Two Bedroom
Bathroom
Further Information
When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor.
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