Flat for sale in First Floor Flat At Lee Close, Barnet, Hertfordshire EN5

Guide Price = £180,000+

**For Sale By Public Auction 21st May 2024 09:30 am. To inspect the legal documents for this property go to our website to download the legal pack**

A First Floor One Bedroom Flat Subject to an Assured Shorthold Tenancy Producing £9,600 Per Annum

Tenure
Leasehold. The property is held on a 99 year lease from March 1996 (thus approximately 71 years unexpired).

Location
The property is located on a quiet residential road within easy access of local shopping and transport facilities. Transport links into Central London are provided by High Barnet underground station (Northern line) and New Barnet rail station.

Description
The property comprises a first floor spacious one bedroom flat situated within a purpose built building arranged over ground and two upper floors.

Accommodation
First Floor
Reception Room
Kitchen
Bedroom with En Suite
Separate WC

Exterior
The property benefits from access to communal gardens an allocated parking space.

Tenancy
The property is subject to an Assured Shorthold Tenancy for a term of 12 months (with a 6 month break clause) commencing March 2024 at a rent of £800 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

C

Annual Ground Rent
£100.00

Service Charge
£1,600.00

Viewing Schedule (No Booking Required)

Addendum
Please note that this property is subject to a Buyers Premium of £900 inc VAT. This is in addition to the buyer's admin fee of £1,500 inc VAT charged by the auctioneers. Both fees are payable to the auctioneers.