Studio flat
An excellent opportunity to acquire this lower ground floor studio apartment measuring approximately 50 sq.m in total located in a popular residential development and in need of complete renovation throughout.
The accommodation comprises of entrance hall, living area with storage cupboard, separate partitioned area which could be utilised as a bedroom subject to the relevant consents being obtained, kitchen, bathroom.
The property also benefits from direct access to the communal gardens.
It is not often a property is within walking distance of three mainline stations with Purley, Kenley and Riddlesdown all within a short distance. There is also easy access to a number of bus routes and a selection of local state and private schools catering for all ages. Shopping, open spaces (such as Riddlesdown Common – ideal for dog walking), golf courses and array of amenities are also to be found close by.
The lease term on this property is 99 years from 24/6/1966. The Sellers solicitor has confirmed that they will start the process for extending the lease but the buyer will be responsible for payment. Prospective buyers must make all necessary enquiries prior to placing their bid, as this will be binding
Leasehold.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fees apply:
- 5% deposit (subject to a minimum of £5,000)
- Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
