Guide Price =£85,000+

**For Sale By Public Auction 16th October 2024 10:00 am. To inspect the legal documents for this property go to our website to download the legal pack**

A Ground Floor Two Bedroom Maisonette Subject to an Assured Shorthold Tenancy Producing £16,800 Per Annum

Tenure
Leasehold. The property is held on a 90 year lease from 25th June 1954 (thus approximately 19 years unexpired).

Description
The property comprises a ground floor two bedroom maisonette situated within a semi detached building arranged over ground and first floors.

Accommodation
Ground Floor
Reception Room
Two Bedrooms
Kitchen
Bathroom

Exterior
The property benefits from a rear garden

Tenancy
The property is subject to an Assured Shorthold Tenancy at a rent of £1,400 per calendar month.

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.