A vacant 1 bedroom ground floor apartment recently refurbished with secure underground parking, located well for both Welling and Bexleyheath Stations, offering frequent access into the City. The shops and restaurants of both Welling and Bexleyheath are also within walking distance. Ideal for owner occupation or letting investment with an estimated rent of £1,200 PCM, gross yield 10.66% PAX. Cash buyers only due to a lease of 66 years.
The Seller shall serve a Section 42 notice to the freeholder prior to completion but all costs connected with the same are to be borne by the Buyer. These include the valuation fee and freeholder’s solicitors’ fees (see emails within legal pack) and the Seller’s solicitors’ costs in the sum of £560.00 plus VAT and disbursements if the Buyer’s solicitor prepares the form of notice and deed of assignment or £700.00 plus VAT if the Seller’s solicitor is required to prepare the same. The premium of £22,750 in March has expired so the property will require a revaluation at £250 inc VAT.
Auction date
To be sold by online auction on Friday 28th July 2023 with a 6 WEEK COMPLETION, bidding will open at 10.00.
Registration
All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.
Location
* Short walk from Welling High Street * Good access into the City * Mainline rail service from Welling Station and Bexleyheath Station * M25 access at junctions 2 and 3
Description
* Ground floor apartment * 1 bedroom * Recently refurbished * Cash buyers only
Accommodation
Entrance hall, living room, kitchen, bedroom, bathroom
Outside
Secure underground allocated parking and visitor spaces
EPC rating
D
Tenure
Leasehold with vacant possession
Lease
99 years from 25 December 1990 - 66 years remaining. Approximate re-sale value with a long lease £220,000. The Seller shall serve a Section 42 notice to the freeholder prior to completion but all costs connected with the same are to be borne by the Buyer. These include the valuation fee and freeholder’s solicitors’ fees (see emails within legal pack) and the Seller’s solicitors’ costs in the sum of £560.00 plus VAT and disbursements if the Buyer’s solicitor prepares the form of notice and deed of assignment or £700.00 plus VAT if the Seller’s solicitor is required to prepare the same. The premium of £22,750 in March has expired so the property will require a revaluation at £250 inc VAT.
Council tax band
C - London Borough of Bexley
Legal pack
For each lot there are Special Conditions of Sale and other documentation provided by the vendor's solicitors. If you wish to receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor.
Additional fees
A buyers charge of £1,200 including VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.
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