Lot A Click here for addendum
An Unbroken Residential Block comprising 30 Self-Contained Flats (17 x 3 Bed and 13 x 2 Bed)
Currently producing £569,237 p.a. (incl. Vendor’s ERV) to include:
• 26 Flats let on ASTs
• 1 Flat let on a Regulated Tenancy
• 3 Vacant Flats
In same family ownership for over 50 years
(Approx. £460 psf freehold)
SITUATION
Located at the junction with Gisburn Road within this popular residential area being less than 1 mile from the cosmopolitan shopping facilities in Crouch End. In addition, there are nearby local shopping facilities in High Street. The area is well served by excellent public transport facilities being approx. 100 yards from Hornsey Rail Station (under 20 minutes to King’s Cross St Pancras Station) and ½ mile from Turnpike Lane Underground Station (Piccadilly Line).
Hornsey lies approx. approx. 6 miles north of central London.
PROPERTY
A detached block comprising 30 Self-Contained Flats planned on the ground and four upper floors, each with uPVC double glazing, entryphone, independent hot water supply and gas central heating or underfloor heating (except Flat 8 which has electric heating).
The block has 3 front entrances and a rear communal garden.
In 2019, the Vendors completed the development of the 12 x 2 bed flats on the third and fourth floors along with the full refurbishment of the 6 flats on the second floor. In addition, 9 of the 12 flats on the ground and first floors were refurbished within the last seven years.
The entire Site Area is approx. 0.37 acres
Floor plans are available in the Legal Pack.
VAT is NOT applicable to this Lot
FREEHOLD
Note 1: This purchase may be subject to Stamp Duty Land Tax Relief for Multiple Dwellings – Applicants should consult their own advisors in this respect.
Note 2: A purchase by a Charity or a Registered Social Landlord may qualify for 100% Stamp Duty Tax Relief – Applicants should consult their own advisors in this respect.
Note 3: There is a 10 week completion.
Note 4: Refer to Auctioneers for additional internal photos.
VIRTUAL TOUR
Click here to view the virtual tour of Flat 34.
Click here to view the virtual tour of Flat 46.
Click here to view the virtual tour of Flat 60.