Guide Price = £250,000+

*For Sale By Online PublicAuction 17th April 2024 08:45 AM. To inspect the legal documents for this property go to our website to download the legal pack*

A First Floor Two Bedroom Flat Subject to an Assured Shorthold Tenancy Producing £19,800 Per Annum

Tenure
Leasehold. The property is held on a 99 year lease from 28th July 1987 (thus approximately 62 years unexpired). At the buyer's request and costs 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 Brixton shops and amenities. The open spaces of Normand Park are within easy reach. Transport links are provided by Brixton underground station (Victoria line) as well as Loughborough Junction both being a 15 minute journey into central London. .

Description
The property comprises a first floor two bedroom flat situated within a purpose built building arranged over ground and three upper floors.

Accommodation
First Floor
Open Plan Reception/Kitchen
Two Bedrooms
Bathroom

Accommodation
Tenancy
The property is subject to an Assured Shorthold Tenancy at a rent of £1,650 per calendar month.

Note
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:

Saturday 13 April 2024 10:00 AM - 10:30

This property is no longer available

Floorplans

2 bedroom flat for sale