Property description
Guide Price = £125,000+
*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 Ground Floor One Bedroom Flat Subject to an Assured Shorthold Tenancy Producing £11,940 Per Annum
Tenure
Leasehold. The property is held on a 99 year lease from 1st July 1987 (thus approximately 62 years unexpired).
Location
The property is situated on a residential road close to local shops and amenities. The open spaces of Priory Park are within easy reach. Transport links are provided by Prittlewell rail station.
Description
The property comprises a ground floor one bedroom flat situated within a purpose built building arranged over the ground and two upper floors.
Accommodation
Ground Floor
Reception Room
Kitchen
Bedroom
Bathroom
Accommodation
Tenancy
The property is subject to an Assured Shorthold Tenancy for a term of 12 months commencing 23rd January 2024 at a rent of £995 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
C
Open House Viewings:
Monday 8 April 2024 4:00 PM - 16:30
Thursday 11 April 2024 4:00 PM - 16:30
Monday 15 April 2024 4:00 PM - 16:30
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