2 bedroom flat for sale

Overview

Guide Price = £185,000+ **For Sale By Public Auction 21st May 2024 09:30 AM To inspect the legal documents for this property go to our website to download the legal pack** A Ground Floor Two Bedroom Flat Subject to an Assured Shorthold Tenancy Producing £16,200 Per Annum Tenure Leasehold. The property is held on a 99 year lease from 25th December 1982 (thus approximately 57 years unexpired). Location The property is situated on a residential road close to local shops and amenities. The open spaces of South Norwood Recreation Ground are within easy reach. Transport links are provided by Selhurst rail station. Description The property comprises a ground floor two bedroom flat situated within an end of terrace building arranged over ground and first floors. Accommodation Ground Floor Reception Room Kitchen Two Bedrooms Bathroom Exterior The property benefits from a rear garden. Tenancy The property is subject to an Assured Shorthold Tenancy for a term of 12 months commencing April 2023 at a rent of £1,350 per calendar month. 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 Open House Viewings: Viewing Schedule (No Booking Required) Addendum Please note that this property is subject to a Buyers Premium of £900 inc VAT. This is in addition to the buyer's admin fee of £1,500 inc VAT charged by the auctioneers. Both fees are payable to the auctioneers. For more details and to contact: https://realtyww.info/flats_thornton-heath-d524980/for-sale_i71407483