A Vacant Ground and First Floor Two Bedroom Split Level Flat

The property comprises a well located ground and first floor two bedroom split level flat situated within a purpose built.

Tenure

Leasehold. The property is held on a 67 year lease from 25th March 1958 - (Already Expired), Please see notice below. A section 42 notice has been served on the freeholder, please refer to the legal pack for further information. As per the documentation included in the legal pack an application for determination of the premium and the terms of acquisition has been submitted to the First-tier Tribunal which has directed that the lease extension process will be held in abeyance for 3 months until 10th April 2025 whereupon directions in the matter will be issued to the parties in terms of progressing the claim through the tribunal. As per paragraph 5 of Schedule 12 to the Leasehold Reform Housing and Urban Development Act 1993, so long as there is a live lease extension claim in respect of the flat, the lease does not terminate on the expiry date and remains for the duration of the claim or for three months after the claim has ended.

Location

The property is situated on a residential road close to local shops and amenities. Transport links are provided by Bond Street underground station (Jubilee and Central lines) and Euston rail station.

Accommodation

Ground Floor Reception Room Kitchen WC First Floor Two Bedrooms Bathroom

Exterior

The property benefits from communal patio gardens.

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.

Energy Efficiency Rating (EPC)

Current Rating D

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.