Property for Auction in London - [Print Version]

Auction Date:

Wed 06/12/2023

Start Time

08:45

Property Type:

Other

The property comprises a first floor two bedroom flat situated within a purpose built block arranged over ground and first floors.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of King George's Fields are within easy reach. Transport links are provided by High Barnet underground station (Northern line) and New Barnet rail station.

Accommodation

First Floor Reception Room Kitchen Two Bedrooms Bathroom

Exterior

The property benefits from communal 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. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor.

Tenure

Leasehold. The property is held on a 99 year lease from 25th March 1976 (thus approximately <b>51 years unexpired</b>). 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.

Floor Plan

Location Map