A first floor flat in Wycombe with a guide price of £80,000+ is among more than 200 lots coming up for sale in a London saleroom next week.

The four room pad with balcony and off road parking in Green Street off the West Wycombe Road is one of six properties in Bucks scheduled to go under the hammer at Savills auction at The Marriott Hotel in Grosvenor Square on September 25.

The auction particulars state that the owner of the flat being sold with vacant possession has served a notice on the freeholder under Section 42 of the Leasehold Reform Act 1993 to extend the 99 year lease granted in September 1988. The ground rent is £100 a year.

Under the terms of the legislation, leaseholders can apply to extend the lease by 90 years once they have owned the property for not less than two years.

In cases such as the one in Green Street when a property is up for sale, as soon as the application for an extension to the lease has been registered by the authorities, it is assignable.

The baton can be passed to the new owner to carry the negotiations forward. Buyers don’t face a two year wait until they can apply to extend the lease in their own right.

If a further 90 years is added to the present unexpired term of 70 years on the Green Street flat, the lease could be bumped up to 160 years, considerably increasing its value.

But Mark Hayward, chief executive of PropertyMark, the professional body for estate agents warns that the procedure is not plain sailing.

He told the Bucks Free Press this week: “The number of lease extensions each year is increasing exponentially. There is a significant cost involved. It is also a complicated process. It’s something we know the Government is looking at very closely.”

The other five Bucks properties listed in the catalogue for next week’s auction are a two bedroom end terrace house in West End Road, High Wycombe (guide: £185,000+), a three bedroom semi-detached cottage with off street parking in Whielden Lane, Winchmore Hill, a hamlet close to Amersham ( £350,000+ ), a parcel of land with planning permission for a detached house next to the Winchmore Hill cottage (£150,000+), a three bedroom mid terrace house on The Common at Stokenchurch (£200,000+) and five lock-up garages with possible development potential on land at the back of the high street in Iver (£50,000+).