A Ground Floor Studio Flat Subject to an Assured Shorthold Tenancy Producing £18,000 Per Annum

The property comprises a ground floor studio flat situated within a mixed use parade arranging over ground and four upper floors.

Tenure

Leasehold. The property is held on a 88 year lease from 25th December 1979 (thus approximately 42 years unexpired).

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of North Millfields Recreation Ground are within easy reach. Transport links are provided by Clapton overground station and Hackney Downs rail station.

Accommodation

Ground Floor Studio Room Kitchen Bathroom

Tenancy

The property is subject to an Assured Shorthold Tenancy at a rent of £1,500 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. If you do not fully understand this process, please ask the auctioneers or a solicitor.

Energy Efficiency Rating (EPC)

Current Rating D

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.