Property for Auction in London - [Print Version]

Auction Date:

Tue 15/10/2024

Start Time

9:30

Property Type:

Other

The property comprises a ground floor one bedroom flat situated within a purpose built block arranged over ground and three upper floors.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Roundwood Park are within easy reach. Transport links are provided by Willesden Junction underground station (Bakerloo line) and overground station.

Accommodation

Ground Floor Reception Room Kitchen Bedroom Bathroom

Tenancy

The property is subject to an Assured Shorthold Tenancy at a rent of £1,250 per calendar month. There may be potential to increase the rent.

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 8th May 1989 (thus approximately <b>63 years unexpired</b>). 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.

Floor Plan

Location Map