Auction sale; cash buyers and investors only recommended.
Compact two-bedroom flat, 593 sq ft
A two-bedroom, 593 sq ft leasehold flat in central Grays offering easy access to the town centre, station and road links. The layout includes a bright lounge, fitted kitchen, double-glazed windows and communal off-street parking, making it a straightforward buy for a cash purchaser or a buy-to-let investor seeking immediate rental potential.
Important buyer warnings are clear: the lease has only about 59 years remaining, which may prevent many mortgage lenders from lending. The property is being sold at auction via the Modern Method of Auction and carries buyer fees, a non-refundable reservation fee (4.5% of the purchase price, minimum £6,600) plus a Buyer Information Pack charge and optional service fees — budget for these additional costs before bidding.
Running costs are atypical: electric room heaters are the primary heating, main fuel is electricity, ground rent is £280 pa and annual service charge averages around £1,300. The property sits in an area with high recorded crime and wider local deprivation indicators, so buyers should factor location-related rental demand and insurance considerations into their plans.
For cash buyers or experienced auction purchasers this flat offers a reachable price and decent transport links into London and to Lakeside. It will suit someone prepared to manage a short lease (renewal or premium negotiation), possible refurbishment, and the additional auction fees. Internal inspection and a thorough review of the lease documents and buyer pack are strongly recommended prior to bidding.
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