Under Offer
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets
Facing Moor Mead Park, St Margarets

Facing Moor Mead Park, St Margarets

£450,000 2 bed Maisonette

2 Bedroom Ground Floor EDWARDIAN MAISONETTE with rear garden at stunning location directly overlooking Moor Mead Park within a brief walk of St Margaret's Station & Village. Lots of potential but PRICED TO REFLECT ITS CONDITION AND LEASE LENGTH - circa 50 yrs remaining and lease extension will cost £105,000+. Bright lounge, roomy kitchen/diner, additional utility area, gch, dbl glazing. Vacant possession and no chain !

Full Details

2 Bedroom Ground Floor EDWARDIAN MAISONETTE in this stunning location directly overlooking the open spaces of Moor Mead Park within a brief walk of St Margarets Station & Village.

VACANT POSSESSION and NO ONWARD CHAIN.

Lots of potential to renovate and remodel with a bright front lounge across from the Park and a roomy rear kitchen/diner plus a further utility area off and rear access out to the garden.

The property requires a general uplift but benefits from double glazing and a gas central heating system.

This property is competitively priced partly because it needs some renovation, but more because its existing lease only has about 50 years remaining. (The current lease is 99 years from 30th September 1971). For your information the current owners requested a voluntary lease extension last year and the freeholders offered to extend the lease for the sum of £105,580 on 25th September 2019. A similar offer may still be available but may now be slightly more as the lease is now a few months shorter.

THE CURRENT LEASE LENGTH IS OUTSIDE THE CRITERIA OF ANY STANDARD MORTGAGE PRODUCT.

So you will only be able to purchase this property if (1) you have all the funds available in cash or (2) you can raise the full amount by raising equity from another property you already own or from some other source.

We are only prepared to show you the property if you are in one of these categories.

There may be a 3rd potential option for a purchaser to buy with a mortgage facility with the right to the lease extension process assigned to you, but you would have to be able to afford to pay the additional cost of the lease extension in addition to your purchase price and you should take legal and financial advice on this first. If you are hoping to buy with some sort of mortgage facility it is likely to be a specialist lender so we will only show you the property if your financial and/or legal advisor has vouched to us directly first how your purchase would be structured.


Private front entrance door into
ENTRANCE HALL:
Radiator, door to understair cupboard.

LOUNGE : Abt. 16 ft 2 ins x 12 ft 5 ins (4.94m x 3.79m)
Double glazed square bay overlooking Moor Mead Park to front aspect, fitted gas fire, cornice, radiator.

BEDROOM ONE: Abt. 12 ft 6 ins x 12 ft (3.81m x 3.66m)
Double glazed window to rear aspect, cornice, radiator.

BEDROOM TWO: Abt. 9 ft 11 ins x 6 ft 11 ins (3.03m x 2.12m)
Double glazed window to side aspect, radiator.

KITCHEN/DINER: Abt. 8 ft 11 ins x 8 ft 3 ins (2.72m x 2.52m)
Units fitted at eye and base level, worktops, tile splashbacks, peninsular unit, inset sink unit, inbuilt oven, inset hob, space for fridge, space for dining table and chairs, wide double glazed window to side, through to

UTILITY:
Cupboard housing hot water cylinder, central space for washing machine, boiler, rear double glazed door to garden and door to ...

BATHROOM:
Panel enclosed bath, WC, pedestal wash hand basin, radiator, frosted double glazed window.

REAR GARDEN
The garden is not demarcated on site. The Title Plan of the ground floor maisonette shows the right half of the main garden plus the side return as being within its demise. The Title Plan of the upper flat does not show the left half as belonging to the upper flat and in practice the upper flat have not used the garden. Prospective purchasers should take their legal advisers opinion re the status of the left hand side of the garden.

LEASE: 99 years from 30th September 1971 (circa 50 years remaining) .

GROUND RENT : £30pa (rising to £45pa in the final 25 years).

COST OF A LEASE EXTENSION
The freeholders offered to extend the lease for the sum of £105,580 on 25th September 2019.


These particulars are provided as a general outline only for the guidance of intending buyers and do not constitute, or form any part of, an offer or contract.
All descriptions, measurements, implications as to usage, references explicit or implied as to condition and permissions for use and occupation, are given in good faith, but prospective buyers must not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them. Stated dimensions should not be relied upon for fitting floor coverings, appliances or furniture. None of the services, fittings,
appliances, or heating or hot water installations, (if any), have been inspected or tested by Mervyn Smith & Co. and no warranty can be given as to their working condition. As a guide to prospective buyers, we have been advised by the vendor regarding the service charge but we have not inspected any accounts and we do not know their terms and conditions. Prospective buyers and their legal advisers will have to establish the exact outgoings and obligations prior to any legal commitment to purchase.

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