2^nd Floor Studio Apartment, Flat 2, Cromwell House, 43 High Street, Ruislip, London, HA4 7BD

Overview

**Cash Buyers only**

Hammer Price Homes are delighted to present for sale by online auction this vacant & chain free 2^nd floor studio apartment in Cromwell house situated in the centre of Ruislip.

The accommodation briefly comprises: Entrance hallway leading to a bathroom, kitchen and bedroom / sitting room.

The apartment comes with allocated parking.

This property requires enhancement throughout and provides an exciting opportunity to those looking for a modernisation project.

Please note that this is a short lease property and is available for cash buyers only, see the leasehold information and charges in the ‘other information’ section below.

To view this property please visit the Hammer Price homes website and register your details.

Location

Cromwell House is ideally located on Ruislip’s bustling high street offering a wealth of local amenities that are literally on your doorstep. Ruislip underground station, which is on both the Piccadilly and Metropolitan lines is less than a 10 minute walk away from the property and provides numerous services throughout London.

Auction Details

** Open to cash buyers only. 90 Days to complete and no deposit payable**

Please note that there is a Reservation fee (2.4% Inc. VAT subject to a minimum of £2,400 Inc. VAT) payable by the buyer on winning the auction. The reservation fee does not constitute part of the sale price, this is the auctioneer’s fee and is to be paid over & above the sale price paid to the Vendor.

To view the property you must register and book on one of the open days as detailed above. (Please note: Entrance will be refused if you are not on the list so please make sure you book your place using the online system. Lists close 24 hours before the open day starts so book in plenty of time.)

Auction ends – Thursday 11^th October 2018 at 1pm (please read anti-sniping rules which may extend the auction)

Bidding Window Opens – Tuesday 9^th October 2018 (Please note bidding won’t be possible until this time)

Starting price – £95,000 (Reserve price is higher & unpublished)

Other Information

Tenure – Leasehold with 54 years remaining.

Lease extension – There are options to extend the lease by 90 years via a statutory or voluntary process, please see the attached document titled ‘lease extension procedure’. The freeholders are called Paradigm and are very engaging. Any attempts to extend the lease should be made post auction and there will be no grounds to withdraw from the sale with a return of the reservation fee citing issues around the short lease or the lease extension.

Ground Rent – £50 per annum. This is subject to review in 2035 when it will be increased alongside RPI.

Maintenance charges – Any service charges are paid annually and include any communal charges such as cleaning and repair charges. The service charges are based on a budget of spend with any surplus or deficit passed over from the prior year. We believe the maintenance charges for the previous 2 years have been around £900 per year.

There has also been a section 20 notice issued for some planned works to be done in the near future. Whilst this is currently on hold, bidders should consider the costings as you will likely be required to contribute in the future. Please see the attachment labelled ‘section 20 notice’ for more details.

How to make an offer

Offers can only be made via the online auction in the form of a bid once the bidding window has opened. No offers will be accepted outside of the auction process.

Once a sale has been agreed (STC) and a price agreed then no further price negotiation will take place. This sale price is fixed and the buyer honoured to pay it. Should the buyer withdraw then they may have to forfeit the reservation fee.

Please read the buyer terms and FAQ’s on the site for more details.

This property is sold as seen. The solicitor to the estate has never lived there and may not be able to answer the usual pre-contract questions.