Guide Price: £160,000

For sale by unconditional online auction starting on 17th March at 10:00 and ending on 17th March at 10:30

For Sale by online Auction, to acquire a modern and well-maintained one-bedroom apartment, offered with the significant advantage of a sitting tenant currently paying £1,475 PCM. Bidding opens Tuesday 17th March at 10:00am


A superb opportunity to acquire a modern and well-maintained one-bedroom apartment, offered with the significant advantage of a sitting tenant currently paying £1,475 PCM, delivering immediate rental income from day one. The property further benefits from its own allocated parking space.

Situated on the second floor, the flat is ideally positioned within close proximity to Barking Station, providing excellent transport links via the Hammersmith & City and District Lines (Zone 4), along with Barking Overground, ensuring consistent tenant demand.

Access is via a secure phone entry system leading into well-kept communal areas, with stairs rising to the second floor where the property enjoys its own private entrance. Internally, the apartment is well laid out and comprises a spacious bedroom, modern bathroom, bright lounge area, and a fitted kitchen, all presented in good order.

With strong rental income already in place, parking included, and a prime transport-led location, this is a compelling buy-to-let opportunity not to be missed.

Leasehold:
Lease started: 04/12/1998
Lease until: 31/12/2097 (71 years unexpired)

We have been advised by the vendor that there is an option to extend the current lease term to 990 years. Potential bidders and purchasers are advised to undertake their own due diligence in respect of the availability and terms of any such lease extension.

Annual Ground Rent £1
Annual Service Charge: £870 for the year or £72.50 per month

EPC Rating: C (70) Valid until 9th October 2029

Council Tax:
Redbridge Council
Band: B (£1703.08)

Disclaimer 1:
No representative of OLAPA LTD, the auctioneers, has physically inspected the property and, as such, we are unable to confirm the property's current condition. All photographs and related information have been provided by the vendor. Interested parties are advised to rely on their own inspections and enquiries prior to bidding or purchase.

Disclaimer 2:
The particulars and information relating to this property have been prepared by OLAPA Ltd in good faith and are provided for general guidance only. While every effort has been made to ensure that the details are accurate and reliable, OLAPA Ltd makes no warranty, representation, or guarantee as to their accuracy, completeness, or suitability for any purpose.
All measurements, descriptions, plans, photographs, and other information are believed to be correct but are not guaranteed and should not be relied upon as statements or representations of fact. Any plans, images, or illustrations are for identification and illustrative purposes only.
Prospective purchasers and bidders are strongly advised to carry out their own independent inspections, investigations, and due diligence, including obtaining professional advice where appropriate, prior to bidding or entering into any purchase agreement.
OLAPA Ltd acts solely as auctioneer and accepts no liability for any errors, omissions, or inaccuracies contained in the property particulars, or for any loss or damage arising from reliance upon them. No employee or representative of OLAPA Ltd has authority to make or give any representation or warranty in relation to the property.
Participation in the auction and any subsequent purchase is undertaken entirely at the bidder's own risk.

UNCONDITIONAL LOT
Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 10% deposit and a 5%+VAT (subject to a minimum of £5,500+VAT) buyer's premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).

PRE AUCTION OFFERS ARE CONSIDERED
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.

SPECIAL CONDITIONS
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the LEGAL DOCUMENTS'. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.