Sold prior to auction, for an undisclosed amount

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A 2 bedroom ground floor apartment (645 sq ft, source EPC) subject to a life tenant.

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Description/Location

We are selling the leasehold interest of the property subject to a life tenancy, the life tenant is a single female aged 69. The tenant has the right to remain in the property rent free until death or until they permanently vacate. The tenant is responsible for all bills & maintenance of the property under the terms of the tenancy agreement. The estimated current open market value with vacant possession is in the region of £200,000.

Tenure

Leasehold: 125 years from 31/03/1989, ground rent £10 pa
Energy Rating: D

Local Authority

Kent County Council

Office Contact

Network Auctions - 020 7871 0420

Accommodation

Ground Floor: Entrance hall, sitting room, kitchen, 2 bedrooms, bathroom. Outside: Private garden.

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.