Studio for sale

This property is for sale by Modern Method of Auction powered by iamsold LTD - Starting Bid £120,000 + Reservation Fee. A well-presented 2nd floor studio flat situated in a convenient location on this popular modern development. The property is within a short walk to the Abbey Station, just over one mile to the City Centre and less than a mile and a half to the City train station with excellent views of St Albans Cathedral from all windows. The property was previously rented for £725pcm last year, currently i would expect to rent for £775-£800 PCM. 

The accommodation briefly comprises welcoming entrance hall with a built-in cupboard, three-piece bathroom suite (consisting of a wash hand basin, W/C and bath with shower over) plus open plan kitchen/living space with fitted wardrobe. The kitchen has an electric cooker, a washing machine/dryer and fridge. Fully double glazed and brand new carpet throughout.

Other features include residents parking, an entryphone system and further storage in the loft space.

You will also find shops and supermarkets nearby as well as easy access to Verulamium Park and Westminster Lodge Leisure Centre.

Lease Information

Length of Lease - 959 years

Expiry date of the Lease: 14/01/2984

Ground rent - £50 per annum
Service charge - £739.00 per six months

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 Limited 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 (for standard Grade 1 properties). 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 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable 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 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.

Referral Arrangement

The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.