A Vacant Lower Ground Floor Studio Flat

The property comprises a lower ground floor studio flat situated within a purpose built block arranging over ground and eight upper floors. The property benefits from a lift access.

Tenure

Leasehold. The property is held on a 57 year lease from 25th March 1975 (thus approximately 6 years unexpired). At the buyer's request 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.

6 Week Completion Available

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of The Regent's Park are within easy reach. Transport links are provided by Euston underground station (Northern line) and rail station.

Accommodation

Lower Ground Floor Studio Room Kitchen 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. If you do not fully understand this process, please ask the auctioneers or a solicitor.

Energy Efficiency Rating (EPC)

Current Rating C

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.