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Lot 15 Click here for addendum

Residential Investment – 2 Bed Flat let on an AST – Gross Yield 21%
6 week completion

Situation

Located close to Henlys Corner in this well-known location being only a few hundred yards from the many shops and restaurants of Temple Fortune.
Temple Fortune lies midway between Golders Green and Finchley Central being approx. 6 miles north-west of central London.

Property

Forming part of this purpose built block comprising a recently redecorated Self-Contained 2 Bed Flat at first floor level which benefits from its own street entrance. The property includes an external rear staircase, a front balcony, uPVC windows and Gas Central Heating (not tested).

ACCOMMODATION (measurements to maximum points)

First Floor Flat
Front Bedroom 14'0" x 13'0"
Rear Bedroom 12'0" x 10'6"
Reception Room 15'7" x 11'10"
Kitchen 8'9" x 9'1"
Bathroom 8'11" x 8'9"
Sep. WC

GIA Approx. 780 sq ft

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 99 years (less 3 days) from 21st January 1936 (thus having approx. 11¾ years unexpired - see Note 1) at a fixed ground rent of £18.90 p.a.

Tenancy

The property is let on an Assured Shorthold Tenancy to an Individual (with personal Guarantor) for a term of 1 year from 1st December 2022 at a current rent of £16,800 per annum (£1,400 pcm) exclusive.

Mutual Break at any time subject to 2 months prior notice from the Landlord and one months notice from the tenant.

There is a £1,585 Rent Deposit held.

Note 1: 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 2: Flat 1 (2 beds) sold in March 2018 for £365,000 (Source: Zoopla.co.uk).

VIRTUAL TOUR
Click here to view the virtual tour of the flat

*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.

Flat 11 Hurstwood Court, Finchley Road, Temple Fortune, London NW11 0AP