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 First Floor Two Bedroom Flat
**Tenure
Leasehold. The property is held on a 99 year lease from 25th December 1980 (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 Hove Park are within easy reach. Transport links are provided by Aldrington rail station.
Description
The property comprises a first floor two bedroom flat situated within a mid terrace building arranged over ground and two upper floors.
Accommodation
First Floor
Reception Room
Kitchen
Two Bedrooms
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.