A Well Located Vacant Lower Ground Floor Four Bedroom Flat

The property comprises a lower ground floor four bedroom flat situated within a mid terrace building arranged over lower ground, raised ground and three upper floors.

Tenure

Leasehold. The property is held on a 99 year lease from 29th September 1977 (thus approximately 51 years unexpired).

Location

The property is situated in the highly sought after area of Maida Vale close to local shops and amenities. The open spaces of Paddington Recreation Ground are within easy reach. Transport links are provided by Maida Vale underground station (Bakerloo line) and Queens Park overground station.

Accommodation

Lower Ground Floor Reception Room with Open-Plan Kitchen Four Bedrooms (Two with En-Suites) Bathroom G.I.A Approximately 94 sq m (1,010 sq ft)

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.

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.