* Leasehold
**Guide Price =** **£75, 000+
**For Sale By Public Auction 7th February 2024 09: 30 am. To inspect the legal
documents for this property go to our website to download the legal pack**
A Third Floor Two Bedroom Flat Subject to an Assured Shorthold Tenancy
Producing £9, 840 Per Annum
** **Tenure**
Leasehold. The property is held on a 99 year lease from 29th September 1934
(thus approximately **10 years unexpired** ).
**Location**
The property is situated on a residential road close to local shops and
amenities. The open spaces of Mitcham Common are within easy reach. Transport
links are provided by West Croydon overground and rail stations.
**Description**
The property comprises a third floor two bedroom flat situated within a
purpose built block arranged over ground and three upper floors.
**Accommodation**
**Third Floor**
Reception Room
Kitchen
Two Bedrooms
Bathroom
**Exterior**
The property benefits from communal gardens.
**Tenancy**
The property is subject to an Assured Shorthold Tenancy at a rent of £820 per
calendar month.
**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.
**EPC Rating**
**E
**
**There are no internal viewings**

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