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Leasehold Investment Opportunity

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Description/Location

A well presented and maintained, 2 bed ground floor apartment with long lease, currently let on an Assured Shorthold Tenancy, in a popular location. There is a modern electric heating/hot water system and Upvc windows and also a garage. EPC rating D/69

Tenure

Leasehold: Lease125 Years from 14th February 2008

Local Authority

Maldon District Council

Viewing

Please contact Balgores Network Auctions on 01245 323729.

Accommodation

Ground floor: Living room, Kitchen area, bathroom, two double bedrooms. Outside: Communal decked terrace and a garage. Auctioneers note: We understand that the current tenant has been living in the property for 8 years and has indicated that they wish to continue renting the property.

Rent

Current rental value: £8,400 pa Estimated rental value: £9,000 pa

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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.