Compact chain-free retirement flat with communal gardens — lease and service charge considerations..
One double bedroom retirement flat, first-floor layout
Chain-free sale — available with immediate vacant possession
61 years remaining on the lease — lenders may refuse mortgages
Service charge £3,588.36 per year; annual review period
422 sq ft — small, manageable living space for downsizers
Dated interior needing modernization and cosmetic updating
Communal gardens and non-allocated off-street parking included
Very high local crime rate; consider security and suitability
A compact one-bedroom retirement apartment on the first floor, located in a popular Fareham development. The layout includes a lounge, kitchen, double bedroom and shower room, with double glazing and a secure entryphone system. External benefits include attractive communal gardens and non-allocated off-street parking.
The flat is being sold chain-free and has obvious appeal for a downsizer seeking a manageable, low-floor home close to local amenities and transport links. Council tax is very low and the property is listed with no flooding risk. The interior is dated and will benefit from updating to modern standards — a practical opportunity for a buyer comfortable with cosmetic renovation.
Important practical considerations: the lease has 61 years remaining and the service charge is relatively high at £3,588.36 per year. Many mortgage lenders refuse to lend on properties with limited lease terms, so purchasers should check finance options carefully and consult a solicitor about lease extension costs before committing. Crime levels in the immediate area are reported as very high, which may affect suitability for some buyers.
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