Auction House London

Lot 4

Maisonette - Flats / Apartments 

Upper Flat, 105 Forburg Road

Stoke Newington, London, N16 6HR

Sold for £450,000

A First & Second Floor Two Bedroom Maisonette Plus Head Leasehold Ground Rent Investment.

Description

The property comprises a two bedroom first and loft floor maisonette within a mid terrace building arranged over lower ground, raised ground and two upper floors. The property requires a program of refurbishment but benefits from a separate entrance door beyond the communal front door (shared with Ground Floor Flat but not the Basement Flat).

Tenure

Leasehold. The property is held on a 120 year lease from 1982 (thus approximately 84 years unexpired) at a ground rent of £50 pa. Included in the sale is the headlease which allows the owner to collect a £25 pa ground rent from the raised ground floor flat.

Location

The property is situated on a popular residential road close to shops and amenities. The open spaces of Springfield Park are within easy reach. Transport links are provided by Stoke Newington rail station.

Tenancy

The property is subject to a Periodic Tenancy following a 12 month Assured Shorthold Tenancy commencing 5th February 2010 at a rent of £1,265 per calendar month (unchanged since 2007).

Accommodation (2nd Column)

Half Landing
Double Bedroom

First Floor
Reception Room
Kitchen/Diner
Bathroom

Loft Floor
Double Bedroom

Note (2nd Column)

Both the tenancy and the S21 notice predate the legislation change of 1st October 2018.

Viewing Details

There are no internal viewings

Bold Black Text

Current Rent Reserved £15,180 per annum. A Section 21 Notice has been served on the tenant to vacate.

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 £900 inc VAT charged by the auctioneers.

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Guides 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. Each 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.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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Enquire about Upper Flat, 105 Forburg Road, Stoke Newington, London, N16 6HR

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