Flat 31A Hanover Gate Mansions, Park Road, Regents Park, London, NW1 4SL

Flat 31A Hanover Gate MansionsPark Road, Regents Park, London, NW1 4SL£240,000+Guide Price (plus fees)AllA Vacant Ground Floor One Bedroom FlatDescriptionThe property comprises a ground floor one bedroom flat situated within a purpose built block arranged over ground and four upper floors.TenureLeasehold. The property is held on a 120 year lease from 1st July 1973 (thus approximately 67 years unexpired).LocationThe property is situated on a residential road close to local shops and amenities. The open spaces of The Regent's Park are within easy reach. Transport links are provided by Baker Street underground station (Bakerloo line) and Marylebone rail station.AccommodationGround FloorReception RoomKitchenBedroomBathroomFurther InformationWhen purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. If you do not fully understand this process, please ask the auctioneers or a solicitor.Financial ToolsyieldmortgageYour estimated rental returnsGross yield0.0%Net yield0.0%Annual income£0Adjust m…

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