For sale by Modern Method of Auction; Starting Bid Price £50,000 plus Reservation Fee.
REDUCED TO ACCOUNT FOR SECTION 20 REQUIRING £35,000 OF WORK...
CHAIN FREE GROUND FLOOR STUDIO APARTMENT IN A CENTRAL LOCATION IDEAL FOR INVESTMENT.

Miles and Barr are delighted to present to the market this ground floor studio flat located in the well-connected area of Mortimer Street, Herne Bay. Internally you enter into the bay fronted living space, with a separate fitted kitchen and bathroom, to the rear of the home is a small hall with a bathroom and separate fitted kitchen leading off of it and living space. The property is a short walk from the seafront and train station, making it an ideal buy for investment. For any further details or to arrange your personal viewing appointment please contact Sole agents Miles and Barr Herne Bay.

MATERIAL INFORMATION
Length of lease : 99 Years from 26/09/1988
Annual ground rent amount : £200 PA
Ground rent review period : TBC
Annual service charge amount : £1000 PA
Service charge review period : TBC
Council tax band : A

Herne Bay is a popular coastal town benefiting from a range of local amenities including retail outlets and educational facilities. There are also a good range of leisure amenities including rowing, sailing and yacht clubs along with a swimming pool, theatre and cinema. The mainline railway station (approximately 1 mile distant) offers fast and frequent links to London (Victoria approximately 85mins) as well as the high speed service to London (St Pancras approximately 87mins). The town also offers excellent access to the A299 which gives access to the A2/ M2 motorway network. The picturesque town of Whitstable is only 5 miles distant which also enjoys a variety of shopping, educational and leisure amenities including sailing, water sports and bird watching, as well as the seafood restaurants for which it has become renowned. The City of Canterbury is approximately eight miles distant with its Cathedral, theatre and cultural amenities, as well as benefiting from excellent public and state schools. The City also boasts the facilities of a major shopping centre enjoying a range of mainstream retail outlets as well as many individual shops.

Entrance -

Lounge - 4.30 x 4.23 (14'1" x 13'10") -

Kitchen - 3.47 x 2.51 (11'4" x 8'2") -

Bedroom -

Bathroom - 2.28 x 1.64 (7'5" x 5'4") -

This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold.

This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The consideration for the property in the calculation for stamp duty liability.

Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.

This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.

The buyer will also make payment of £300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.

The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable