A Well Located Short Leasehold Interest in a First Floor Two Bedroom Flat which is Underlet on a Sub Lease that has Three Years Unexpired with no Right to Extend. A Lease Extension has been Formally Agreed at £263,000.

The property comprises a first floor two bedroom flat situated within a mid terrace building arranged over ground and three upper floors.

Tenure

Leasehold. The property is held on a 99 year lease from 26th June 1931 (thus approximately 3 years unexpired). A lease extension premium has been agreed and engrossed at £263,000. The rights of which will passed to the incoming buyer.

Location

The property is situated on a mixed use road in the highly sought after area of Hampstead Garden Suburb close to local shops and amenities. The open spaces of Lyttelton Playing Field are within easy reach. Transport links are provided by East Finchley underground station (Northern line).

Accommodation

First Floor Reception Room Kitchen Two Bedrooms Bathroom

Exterior

The property benefits from a private balcony

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 £1,800 inc VAT

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