1 bedroom apartment for sale in London E9

Further details

ONE-BEDROOM GROUND FLOOR FLAT
WITH OFF-STREET PARKING BAY
Asking Price £84,000 Shared-Ownership

SEMLEY GATE, off OSBORNE ROAD, HACKNEY, LONDON, E9 5NH

SHARED OWNERSHIP SCHEME - PART BUY & PART RENT - FLAT FOR SALE. A generally well presented and centrally heated one-bedroom flat arranged on the ground floor level within this modern four-storey purpose-built apartment building known as 1, Semley Gate which was originally built circa 2001/02 and is located within an increasingly popular residential neighbourhood within London Travel Zone 2 being situated on the south-west side of Osborne Road close to its junction with Eastway. The property is quite conveniently close to local shops and to bus routes and Hackney Wick train station for access to the City and the West End. Accommodation comprises of one double bedroom, a good-sized reception room, a modern kitchen, and a modern bathroom with w.c. Approximately 450 square feet. Features include full gas central heating, double-glazed windows, fitted kitchen units, a modern three-piece white bathroom suite, and use of its own allocated front parking bay.

ACCOMMODATION
The existing accommodation is arranged briefly as follows :-

GROUND FLOOR :-

ENTRANCE HALLWAY
With wood laminate flooring ; central heating radiator ; entryphone unit ; power points ; and built-in storage cupboard

RECEPTION ROOM (13'0 x 11'3) / (3.96m x 3.43m)
With carpet as fitted ; double-glazed window and door to the front elevation facing Osborne Road ; central heating radiator ; and numerous power points

KITCHEN (9'0 x 8'0) / (2.74m x 2.44m)
With vinyl floor covering ; double-glazed windows to the front elevation facing Osborne Road ; a comprehensive range of wall-mounted and base kitchen cupboards with ample worktop surfaces and with tiled splashback surrounds ; inset stainless steel single bowl single drainer sink unit with mixer taps ; space for cooker ; plumbing for a washing machine ; space for a fridge-freezer ; central heating radiator ; steam extractor unit ; power points ; and with a wall-mounted "Glow-Worm Compact gas central heating / hot water boiler

BEDROOM (13'0 x 9'4) / (3.96m x 2.84m)
With carpet as fitted ; double-glazed window to the rear elevation ; central heating radiator ; and power points

BATHROOM & W.C (9'4 x 6'3) / (2.84m x 1.90m)
With vinyl floor covering ; part tiled walls ; double-glazed window to the rear elevation ; central heating radiator ; and with an installed white bathroom suite comprising of a panelled bathtub with mixer taps and shower attachment ; pedestal wash hand basin ; and low-flush W.C

OUTSIDE :-

OFF-STREET PARKING BAY FOR ONE CAR IN FRONT OF THE BUILDING

COUNCIL TAX - LONDON BOROUGH OF HACKNEY
Council Tax Band B 2008/2009 100% = £1017.54 75% = £763.15

TENURE
LEASEHOLD - Approximately 118 YEARS UNEXPIRED
Current annual Ground Rent - a peppercorn
Current monthly Rent - £146.79
Current monthly Service Charge - £51.86

POSSESSION
VACANT POSSESSION IS TO BE GRANTED UPON COMPLETION OF THE SALE

ASKING PRICE
£84,000 SUBJECT TO CONTRACT
(FOR VENDOR'S EXISTING 50 PER CENT SHARED-OWNERSHIP LEASEHOLD INTEREST)

We are instructed to offer For Sale our client's existing 50 per cent share interest in this property at the Asking Price quoted. We are further advised that the Rent payable (inclusive of ground rent, service charges & building insurance) to "Notting Hill Home Ownership (as the owners of the remaining 50 per cent share interest in the flat) is currently in the sum of £198.65 per month.

VIEWING ARRANGEMENTS
THIS PROPERTY MAY ONLY BE VIEWED "BY APPOINTMENT VIA THE VENDOR'S AGENTS :-

BUNCH & DUKE
360, MARE STREET, HACKNEY, LONDON, E8 1HT
Telephone ~ 020 8986 3521
Fax ~ 020 8985 5707
email ~ hackney@bunchandduke.com

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WHILST EVERY CARE HAS BEEN TAKEN IN THE PREPARATION OF THESE DETAILS THEIR ACCURACY IS NOT GUARANTEED AND ALL PROPERTY OFFERED FOR SALE IS OFFERED SUBJECT TO CONTRACT. ALL MEASUREMENTS, INCLUDING ROOM DIMENSIONS AND GARDEN SIZES, ARE APPROXIMATE AND ARE SUPPLIED FOR GENERAL GUIDANCE PURPOSES ONLY. NONE OF THE STATEMENTS CONTAINED WITHIN THESE DETAILS ARE TO BE RELIED UPON AS STATEMENTS OR REPRESENTATIONS OF FACT. BUNCH & DUKE HAVE NOT TESTED ANY APPARATUS, EQUIPMENT, FIXTURES, FITTINGS OR SERVICES (GAS, WATER, ELECTRICITY SUPPLIES OR HEATING SYSTEMS) AND SO CANNOT VERIFY THAT ANY SUCH ARE IN WORKING ORDER OR FIT FOR THE PURPOSE. PROSPECTIVE PURCHASERS ARE ADVISED TO OBTAIN VERIFICATION VIA THEIR SOLICITOR OR FROM THEIR SURVEYORS. ANY REFERENCE TO THE TENURE AND EXTENT OF THE PROPERTY IS BASED UPON INFORMATION SUPPLIED EITHER BY THE VENDOR(S) OR BY THE VENDOR(S) SOLICITORS OR, IF AVAILABLE, FROM INFORMATION DERIVED FROM THE HOME INFORMATION PACK. AT THE TIME OF PREPARING THESE DETAILS BUNCH & DUKE MAY NOT HAVE HAD SIGHT OF THE TITLE DOCUMENTS OR SUPPORTING DOCUMENTATION OR PLANNING CONSENTS OR BUILDING REGULATIONS APPROVALS AND PROSPECTIVE PURCHASERS ARE THEREFORE ADVISED TO OBTAIN VERIFICATION FROM THEIR OWN SOLICITOR IN THIS REGARD. LIKEWISE PROSPECTIVE PURCHASERS ARE STRONGLY ADVISED TO SATISFY THEMSELVES, BY INSPECTION OR SURVEY OR OTHERWISE, AS TO THE CORRECTNESS OF ANY STATEMENT HEREIN AND TO TAKE APPROPRIATE PRECAUTIONS TO CHECK ANYTHING WHICH MAY BE CRITICAL TO THEIR INTEREST IN THE PROPERTY.

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WHAT IS "SHARED OWNERSHIP ?

If you are unable to buy a property outright on the open market, then Shared Ownership may be the ideal solution for you. Shared Ownership is a part-buy, part- rent scheme, which enables people to buy a home in stages. Purchasers can buy an initial share in a property of between 25% and 75% of the value of the property and then pay a subsidised rent on the remaining value of the property. This means that, for example, if you buy a 50% share interest in a flat then you will have occupancy of the entire flat and will pay a subsidised rent on the remaining 50% share interest to the Housing Association running the Shared Ownership Scheme.

A service charge will also be payable to cover the cost of communal maintenance. The service charge payable remains the same whatever percentage you own of your home and continues to be payable should you purchase your home outright where possible.

You will need to have sufficient savings to cover the initial cost of home ownership: legal fees and stamp duty for example. You will also need to be able to meet the costs of rent, mortgage, service charges and other associated outgoings. If you can afford to buy a suitable property outright then you probably will not qualify to take part in a part-buy part-rent Shared Ownership Scheme as such schemes aim to assist only those people that are not able to buy a property outright.

As your income increases, you can (if you wish) buy further shares in your home until you could own 100% of the value and no longer share the ownership with the Housing Association. The greater the percentage you own then the lower the percentage on which you pay rent.

However, if you do not wish to buy more shares in the property then you do not have to. Obviously, the more you own, the less you pay in rent. And, if you can buy your home outright in the future, then no rent will be payable.

Once you have purchased equity in your home, you are free to sell any time you choose. When you decide to sell the Housing Association retain the right, for a short period, to nominate a purchaser to buy your home. This is to ensure that others unable to buy on the open market have the opportunity to purchase a home of their own.

Many people who do not own a property are eligible to apply for shared-ownership with Notting Hill Home Ownership.

Priority is given to public sector tenants, key workers, and residents in the borough where the property is located and to those nominated by the local authority.

Generally, you should fall in one of the following categories:

Local Authority and Housing Association tenants who will move out of their rented homes if they get a shared ownership home.

First time buyers, people living with parents or relatives, people living in private rented accommodation, people who need to move for work reasons and homeless people or people living in temporary accommodation.

The schemes are available to people who cannot afford to buy a suitable home on the open market.

You will need at least £3,000 savings to cover the cost of the mortgage valuation or survey, the legal fees and stamp duty (where applicable).