For sale by online auction - Freehold Subject to a Short Lease
Bidding opens: 07/12/2021 12:00
Auction scheduled to end: 09/12/2021 18:14
online auction from 7th december-9th December
For sale is the freehold of this property.
The property itself is an end of terrace, bay fronted house with off-road parking and space for garage.
Note regarding this ground rent The purchaser for this lot will secure the freehold, subject to a lease being in place. The lease that is in place expires in under 11 years time. If after this time no action is taken by the lessee, the property will revert to the freeholder. If between now and the expiration of the lease, the lessee exercises his/her right to request a lease extension, a substantial cost will be paid to the freeholder. An online app calculates the cost to the lessee at present to be £124,000 and rising as the lease shortens. This therefor represents a lucrative investment to any purchaser.
No viewings as this is a freehold investment
Tenure:
Advised Freehold - to be verified by solicitor
Tenancies:
Tenancy The property has a 99-year lease from 24/06/1933