*For Sale By Online PublicAuction 10th September 2025 09:30 AM. To inspect the legal documents for this property go to our website to download the legal pack*
A Twelfth Floor Two Bedroom Flat with Sea Views Subject to an Assured Shorthold Tenancy Producing £10,800 Per Annum
Tenure Leasehold. The property is held on a 114 year lease from 1st October 1961 (thus approximately 50 years unexpired).
Location The property is situated on a residential road close to local shops and amenities. The open spaces of Dane Park are within easy reach. Transport links are provided by Margate rail station.
Description The property comprises a twelfth floor two bedroom flat situated within a purpose built block arranging over ground and seventeen upper floors.
Accommodation Twelfth Floor Reception Room with Open Plan Kitchen Two Bedrooms Bathroom
Accommodation Tenancy The property is subject to an Assured Shorthold Tenancy at a rent of £900 per calendar month.
Note The property has not been inspected by Auction House London. All information has been supplied by the vendor.
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. If you do not fully understand this process, please ask the auctioneers or a solicitor.
The Est. Mortgage is for a 25 years repayment mortgage based on a 10% deposit and a 5.5% annual interest. It is only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.
DISCLAIMER: Property descriptions and related information displayed on this page are marketing materials provided by Auction House London - Hampstead. Placebuzz does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Auction House London - Hampstead for full details and further information.