Property for Auction in London - Flat 27 Tavistock Court, Tavistock Square, Bloomsbury, London

A Vacant Third Floor Studio Flat The property comprises a third floor studio flat situated within a purpose built block arranged over ground and eight upper floors. The property requires a program of refurbishment. Tenure Leasehold. The property is held on a 54 year lease from 25th December 1978 (thus approximately 7 years unexpired ). A section 42 notice to extend the lease will be served prior to completion, the rights of which would be assigned to the incoming buyer. Location The property is situated on a residential road close to local shops and amenities. The open spaces of Tavistock Square Gardens are within easy reach. Transport links are provided by Euston Square underground station (Circle line) and Farrindgon rail station. Accommodation Third Floor Studio Room Kitchen (not fitted) Bathroom 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. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor. Energy Efficiency Rating (EPC) Current Rating C 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.