The apartment has been used for the busy rental market for a number of years so this may appeal to any buy-to-let landlords looking to add to their portfolio. Its low maintenance appeal and convenient location also make this a very attractive property for first time buyers.
The accommodation comprises a bathroom off the entrance hall and an open-plan lounge and kitchen area as well as a well-proportioned double bedroom. The property benefits from being fully double glazed. The apartment also has the added bonus of a secure allocated parking space.
TENURE
Leasehold
Unexpired Years: 86
Annual Ground Rent: £200.00
Ground Rent Increase: £200.00
Ground Rent Review Period: 17 years
Annual Service: £1344.00
These details are to be confirmed by the vendor's solicitor and must be verified by a buyer's solicitor.
“Under the Leasehold Reform, Housing and Urban Development Act 1993 a new lease is currently being negotiated for a new term of 90 years beyond the unexpired term of the existing lease, therefore the new lease will have an unexpired term of 175.47 years.
The ground rent in the new lease under the legislation will be a peppercorn, effectively nil rent.”
Under current legislation a new buyer does not have to wait the previous act’s 2 years wait so on completion the new lease will be placed in the new buyers name.”
ADDITIONAL INFORMATION
Materials used in construction: Brick
No Gas at the property
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