A Plot of Land Measuring Approximately 139 sq m (1,496 sq ft) Subject to Two Lease's Producing £750 Per Annum

The lot comprises a plot of land measuring approximately 139 sq m (1,496 sq ft).

Tenure

Freehold

Location

The land is situated on a residential road close to local shops and amenities. The open spaces of Penmanor Playing Field are within easy reach. Transport links are provided by Bromsgrove rail station.

The site area depicted within the plan in the auction particulars is for indicative purposes only. Additionally, any measurements stated may not be exact. Some or all of the plot may comprise adopted highway land and if the site has trees, there may be Tree Preservation Orders in place. Buyers should rely on their own enquiries with regard to precise measurements, any consents or rights over the land and any possible development potential or alternative uses for this site.

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.

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.