1 Bed Flat For Sale

Guide Price = £60,000-£120,000



**For Sale By Public Auction 12th February 2025 09:30 AM To inspect the legal documents for this property go to our website to download the legal pack**



A Vacant Ground Floor One Bedroom Flat



Tenure

Leasehold. The property is held on a 99 year lease from 25th December 1983 (thus approximately 58 years unexpired).



Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Bluebell Woods Rushey Mead are within easy reach. Transport links are provided by Bishop's Stortford rail station.



Description

The property comprises a ground floor one bedroom flat situated within a purpose built block arranged over ground and two upper floors.



Accommodation

Ground Floor

Reception Room

Kitchen

Bedroom

Bathroom



Exterior

The property benefits from off street parking.



Note

The vendor estimates that the potential rental income for this property if presented in good condition is circa £1,200 per calendar month (£14,400 per annum). Buyers should rely on their own enquiries.



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.



Viewing Schedule (No Booking Required)



Thursday 30 January 12:00 - 12:30

Wednesday 5 February 10:00 - 10:30

Saturday 8 February 10:00 - 10:30

Monday 10 February 12:00 - 12:30