Property for Auction in London - Flat 5, 27 Biscot Road, Luton, Bedfordshire

A Vacant First Floor Studio Flat The property comprises a first floor studio flat situated within an end of terrace building arranged over ground and two upper floors. Tenure Leasehold. The property is held on a 99 year lease from 1st November 2003 (thus approximately 77 years unexpired ). Location The property is situated on a residential road close to local shops and amenities. The open spaces of Wardown Park are within easy reach. Transport links are provided by Luton rail station and the M1. Accommodation First Floor Studio Room with Kitchenette Bathroom Tenancy The rental income is expected at £1,000 per calendar month. Further Information 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. Services Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services. Important Notice to Prospective Buyers: We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others. Additional Fees Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.