A Vacant Eighth Floor Two Room Flat

The property comprises a eighth floor two room flat situated within a purpose built block arranging over ground and twelve upper floors. The property benefits from a lift. The property requires a program of refurbishment.

Tenure

Leasehold. The property is held on a 119 year lease from 5th September 1988 (thus approximately 82 years unexpired).

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of King George V Recreation Ground are within easy reach. Transport links are provided by Stevenage rail station.

Accommodation

Eighth Floor Reception Room/Kitchen Two Rooms Bathroom

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.

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.