Life reversion investment - Leasehold 1 bedroom, second floor flat (430 sq ft, source EPC) forming part of a purpose built retirement development

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Description/Location

The property is held on a life tenancy in favour of a female aged 76. The life tenants are responsible for maintenance, insurance, service charge, ground rent, council tax and utilities. Vacant possession is obtained on death of the last tenant or should they move to long term care.

Tenure

Leasehold
Energy Rating: D

Office Contact

Network Auctions - 020 7871 0420

Accommodation

Second Floor: Front door to entrance hall, sitting room, kitchen, bedroom, bathroom. Communal Facilities: Residents lounge, on site warden, Careline facility, gardens, parking.

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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.