1 Bed Flat For Sale

Sold for £155,000. Guide Price = £80,000+

**For Sale By Public Auction 25th October 2023 08:45 AM To inspect the legal documents for this property go to our website to download the legal pack**

A Vacant First Floor One Bedroom Flat

Tenure
Leasehold. The property is held on a 99 year lease from 24th June 1982 (thus approximately 57 years unexpired). A section 42 notice to extend the lease has been served on the freeholder, the rights of which will be assigned to the incoming buyer.

Location
The property is situated on a residential road close to local shops and amenities. The open spaces of Grangewood Park are within easy reach. Transport links are provided by Norwood Junction overground and rail stations.

Description
The property comprises a first floor one bedroom flat situated within a mid terrace building arranged over lower ground, raised ground and two upper floors.

Accommodation
First Floor
Reception Room with Open-Plan Kitchen
Bedroom
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.

EPC Rating
D

Viewing Schedule (No Booking Required)

Friday 13 October 11:45 - 12:15
Thursday 19 October 11:45 - 12:15