Eastfield Road, Witney, Oxfordshire, OX28 1HW

An individual first floor maisonette offered both with immediate vacant possession and the benefit of over 900 years lease remaining plus a share of the freehold!

THE PROPERTY

A well-presented first floor one bedroom maisonette with its own ground floor entrance hall (used by the present owners to keep a pram when visited by relatives) and private staircase that leads up to the well-arranged accommodation on the first floor.

This spacious light bright and airy property benefits from an open plan living kitchen with a pretty former fireplace adding character. The double bedroom is to the rear of the property and has views towards over garden. The fields in the distance will be subject to residential development.

The property benefits from both double glazing and gas central heating. The lease gives the right to use the front garden and by convention, the owners use the front area of garden and one of the parking spaces on the hard standing that has been created to the front of the property on the verge.

Tenure: Leasehold with the remainder of a 999 year lease granted 1 May 2010 with a share of the freehold. Investors, based on a realistic rent of £850 per calendar month, this property offers a gross yield in the region of 6.38%! It also already has a 'C'' EPC rating.

There is a requirement to contribute 50% towards the cost of maintaining the foundations and roof. A ground rent of 1p pa is payable, but it is not collected in practice. The lease requires each flat owner to insure their own flat including the structure. There is no additional buildings insurance maintained by the landlord. There is no service charge in the lease. Since conversion, only a single contribution of £100 towards the gutters being cleaned and repaired has been made.

West Oxfordshire District Council (Tax Band B
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.

SITUATION:
Eastfield Road is in established residential area close to local convenience shops. The X9 runs along Hailey Road to town and Chipping Norton. One of the local community buses runs along Eastfield Road itself. There is also a very pleasant 15 to 20 minute walk into town along tree lined Hailey Road, a footpath across the meadow with a footbridge across the river Windrush, and then along semi pedestrianized Puck Lane which brings you outside M&S.

Witney is a thriving market town on the edge of the Cotswolds about 10 miles to the West of the dreaming spires of Oxford. Its location on the banks of the River Windrush led to the manufacture of high quality blankets known the world over until the last mill was closed in 2002.
Some manufacturing remains and the town is home to Christy & Co - hat makers since 1773 to people as diverse as the Royal family to Don Corleone in the Godfather films! Much of the town's fine architecture reflects the wealth of the woollen trade in its heyday. The rich variety of shops, street cafes, and excellent sporting facilities coupled with higher order services that include a hospital greatly add to the quality of life.

The property is within about 6 miles of a mainline service from Long Hanborough to Oxford and London Paddington with journey times of 9 and 70 minutes respectively.
Brochures

Council Tax Band: B
Tenure: ShareOfFreehold
Length Of Lease: 985
Ground Rent Review Period: no ground rent
Service Charge Review Period: no service charge