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Lot 18 Click here for addendum

2 Bed Flat let on an AST
4 Week Completion

Situation

Located close to the junction with Windmill Bridge (A222) conveniently situated less than ½ a mile from Croydon town centre and ideally located for West Croydon (London Overground, Tram and National Rail) and East Croydon (National Rail) Stations.
Croydon is a principal retail centre approximately 10 miles to the south of central London being adjacent to the A23 which gives direct access to the National Motorway Network via the M23 and M25.

Property

Forming the entire first floor of this detached building comprising a Self-Contained 2 Bed Flat accessed from its own side entrance via a communal gated passageway. In addition the property includes a Rear Garden and use of a Parking Space on the front forecourt (see Note 1).

Accommodation

First Floor Flat (measurements to maximum points)
Bedroom 1 11'8" x 11'5"
Bedroom 2 11'6" x 8'11"
Living Room 11'10" x 11'5"
Kitchen/Diner 11'9" x 11'4"
Bathroom/WC 8'6" x 4'10"

GIA Approx. 615 sq ft

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 99 years from 29th September 1989 (thus having approx. 67¼ years unexpired - see Note 2) at a ground rent of £50 p.a. (rising by £50 p.a. every 33 years).

Tenancy

The property is let on an AST to an Individual for a term of 1 year from 20th August 2018 (holding over - in occupation since 2016) at a current rent of £12,600 per annum exclusive (£1,050 pcm).

Vendor's ERV £13,800 p.a. (£1,150 pcm).

Note 1: The lease provides the right to park in one of the front forecourt spaces between 7pm and 7.30am Monday to Friday in each week and on Saturdays, Sundays and Bank Holidays, but the tenant in the flat advised it can be used 24 hours a day, 7 days a week.

Note 2: At the request of the Purchaser and prior to completion, the Vendor will serve a Section 42 Notice to extend the lease and assign this benefit to the Purchaser. This would be for an additional 90 year lease and extinguishment of the ground rent.

Note 3: There is a £1,453 Rent Deposit held.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

58b Lansdowne Road, Croydon, Surrey CR0 2BD