A Vacant Second Floor One Bedroom Retirement Flat

The property comprises a second floor one bedroom flat situated within a purpose built building arranged over ground and three upper floors. The property benefits from two lifts, an on site warden, communal lounge and dining room.

Tenure

Leasehold. The property is held on a 99 year lease from 25th December 1986 (thus approximately 63 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.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Cherry Tree Wood's are within easy reach. Transport links are provided by East Finchley underground station (northern line).

Accommodation

Second Floor Open Plan Kitchen/Reception Bedroom Bathroom

Exterior

The property benefits from an allocated parking space.

To be eligible as a resident you must be aged 60 or over.

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 £1,800 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.