1 bedroom flat for sale

Overview

Guide Price = £10,000+ **For Sale By Public Auction 18th April 2024 08:45 AM To inspect the legal documents for this property go to our website to download the legal pack** A Vacant Second Floor One Bedroom Flat. ERV: £4,069 Per Annum (Source: LHA Rate). Tenure Leasehold. The property is held on a 99 year lease from 1st December 1989 (thus approximately 64 years unexpired). Location The property is situated on a residential road close to local shops and amenities. The open spaces of Wansbeck Riverside Park are within easy reach. Transport links are provided by Pegswood rail station. Description The property comprises a second floor one bedroom flat situated within a purpose built block arranged over ground and two upper floors. Accommodation Second Floor Reception Room with Open-Plan Kitchen Bedroom Bathroom Exterior The property benefits from communal gardens and off street parking. Tenancy The LHA rate for a one bedroom property in the area is £78.25 per week (£4,069 per annum) (source: lha-direct.voa.gov.uk). 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 D Viewing Schedule (No Booking Required) Wednesday 3 April 11:00 - 11:30 Saturday 6 April 13:30 - 14:00 Thursday 11 April 11:00 - 11:30 For more details and to contact: https://realtyww.info/flats_choppington-d560168/for-sale_i70018423

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