Guide Price = £200,000

**For Sale By Public Auction 21st May 2024 08:45 AM To inspect the legal documents for this property go to our website to download the legal pack**

A Vacant First Floor One Bedroom Flat

Tenure
Leasehold. The property is held on a 99 year lease from 29th September 1984 (thus approximately 59 years unexpired). 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.

Location
The property is situated on a residential road close to local shops and amenities. The open spaces of Langthorpe Park are within easy reach. Transport links are provided by Leyton underground station (Central line) and Maryland rail station.

Description
The property comprises a first floor one bedroom flat situated within an end of terrace building arranged over ground and first floors.

Accommodation
First Floor
Reception Room
Kitchen
Bedroom
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. 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.

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