A fantastic investment opportunity presenting a vacant first-floor studio apartment offering a 120-year lease with 77 years remaining. Conveniently located within a five-minute drive to Milton Keynes central this property is situated in the heart of Two Mile Ash overlooking the local park.

The accommodation is accessed via a communal entrance hall and comprises bedroom/lounge, kitchen, dressing area and shower room. There is parking to the front and access to local amenities with a bus service running from the end of the road. The property was previously let on an assured shorthold tenancy generating £600 p.c.m producing £7,200 per annum which gives a 12% yield.

Tenure

Leasehold.

ACCOMMODATION

Communal entrance hall, lounge/bedroom, kitchen, dressing room and shower room.

OUTSIDE

There is communal parking to the front.

TERMS OF THE LEASE

A term of 120 years from 01/01/1982 with 77 years remaining. Ground Rent of £148 per annum Communal Electric charge £4.12 every quarter Insurance contribution £296.19 PLEASE REFER TO THE LEGAL PACK FOR CLARIFICATION AS STATED CHARGES ARE BASED ON INFORMATION PROVIDED BY THE SELLER.

Energy Efficiency Rating (EPC)

Current Rating E

Local Authority

Milton Keynes Council

Additional Fees

Buyer's Premium - The purchaser will be required to pay an administration charge of £1,800 (£1500 Plus VAT)

Administration Charge - The purchaser will be required to pay an administration charge of £1,140 (£950 plus VAT).

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.