A Vacant Ground Floor Two Bedroom Maisonette

The property comprises a ground floor two bedroom maisonette situated within a semi detached building arranged over ground and first floors. The property is in a dilapidated condition and requires a full program of refurbishment.

Tenure

Leasehold. The property is held on a 99 year lease from 1st January 1975 (thus approximately 51 years unexpired). At the buyer's request and costs a section 42 notice to extend the lease will be served prior to completion, the rights of which would be assigned to the incoming buyer.

By Order of the Executors

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of King George Playing Fields and Nuns Moor are within easy reach. Transport links are provided by Newcastle rail station.

Accommodation

Ground Floor Reception Room Kitchen Two Bedrooms Bathroom

Exterior

The property benefits from both front and rear 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.

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.