Lot 6 - 17A & B Monega Road, London, Newham, E7 8EN

  • Unconditional Online Auction Sale
  • Guide Price* : £225,000
  • Residential Investment income producing
  • Currently two flats
  • Double glazing

ON BEHALF OF THE LPA RECEIVER: Mid terrace house arranged as two x two bedroom flats*, with the ground floor flat let producing £1,200pcm.

Description

The property comprises a two storey mid terrace house which has been converted to provide two x two bedroom flats. The ground floor flat is currently tenanted and the Receivers have been unable to ascertain the occupation status of the first floor flat.

*The property will be sold subject to an Enforcement Notice from the Council which states that the property must be converted back to a single house because the conversion into two flats was done without planning permission. The contract of sale will stipulate that the buyer completes with the Enforcement notice within 6 months of their purchase. The tenure being sold does not include the freehold and we understand this comprises the access door, communal hallway and staircase. Interested parties should refer to the Legal Pack and rely on their own enquiries.

Location

The property is located in East London approximately 10 miles to the east of central London. Monega Road provides access to Green Street which in turn leads to the main A406 North Circula Road, which is one of the main inner ring roads serving London. Upton Road Underground station is located less than a mile from the property. A range of local retailers, cafe's, takeaways and other amenities are available within the area.

Tenure

The title being sold comprises the leasehold interest to the two flats: 17A is leasehold for 125 years from 11th October 2007 a a current ground rent of £100 per annum and 17B is leasehold for 125 years from 15th November 2007 at a current ground rent of £100 per annum.. The freehold is not part of the sale.

Accommodation

Ground Floor Flat: Hall, Lounge, Two Bedrooms, Kitchen and Bathroom
First Floor Flat: Hall, Lounge, Two Bedrooms, Kitchen and Bathroom

Outside

Small front yard and yard to the rear (not included within the title being sold, but leaseholders have rights as defined in their lease - see Legal Pack for full details).

Tenancies

The Receivers are not in receipt of a copy of the tenancy agreement, however, we understand that housing benefit pay a rent of £1,200pcm in respect of the ground floor flat. The first floor flat is also occupied although no further information about this has been obtained by the Receivers.

EPC

Energy Asset Rating is D for each flat.

Buyers Administration Fee

There will be a Buyer's Administration Fee of £3000 (inc VAT) payable upon exchange of contracts.

Additional Information

1. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.

2. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.

* 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.

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