Alexandra Place, South Norwood, London, SE25 6JE - Online Auctions

The property comprises a ground floor one bedroom flat situated within an end of terraced building arranged over ground and first floors. Ground Floor Reception Rooms Kitchen Bedroom Bathroom Leasehold. The property is held on a 99 year lease from 25th March 1985 (thus approximately 58 years unexpired ). When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. If you do not fully understand this process, please ask the auctioneers or a solicitor. £1,560 incl. VAT £1,500 incl. VAT