Guide Price = **£320,000+

For Sale By Public Auction 19th March 2025 10:00 AM To inspect the legal documents for this property go to our website to download the legal pack

A Fifth and Sixth Floor Three Room Split Level Flat Part Let Producing £8,400 Per Annum

**Tenure
Leasehold. The property is held on a 125 year lease from 6th June 1983 (thus approximately 83 years unexpired).

Location
The property is situated on a residential road close to local shops and amenities. The open spaces of Regent's Park are within easy reach. Transport links are provided by Baker Street underground station (Bakerloo, Circle and Hammersmith & City lines) and Marylebone rail station.

Description
The property comprises a fifth and sixth floor three room split level flat situated within a purpose built block arranged over ground and six upper floors.

Accommodation
Fifth Floor
Room
Kitchen

Sixth Floor
Two Rooms
Bathroom
Separate WC

Tenancy
One of the three rooms are subject to a rolling tenancy at a rent of £700 per calendar month. The vendor has advised that they have served notice for the tenant to vacate.

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.

EPC Rating
C

Open House Viewings To Be Confirmed