7 bedroom terraced house for sale

Tenure: Freehold

FREEHOLD INVESTMENT WITH DEVELOPMENT POTENTIAL - PROMINENT SHOP AND FLATS

FREEHOLD FOR SALE - 5 residential flats and a shop:

The building comprises of a GROUND FLOOR SHOP together with 5 SELF CONTAINED FLATS arranged on rear ground, first and second floors. The flats are split up providing 2 x studio flats, 2 x 1 bed flats and 1 x 2 bed flat. The entire property is let and INCOME PRODUCING

The property is situated in a prominent position on the corner of SEVEN SISTERS ROAD and Gourley Street. The property is close to the junction of High Road Tottenham and St Anns Road. Transport facilities are good with Seven Sister Road Underground Station (Victoria Line) being close by. Numerous bus routes also serve the area.

SHOP FLOOR AREAS: Ground Floor Shop: 850 Sq Ft (78 Sq M)

TENANCIES:

Ground Floor Shop: The ground floor shop is let on a lease agreement excluded from the provisions of Sections 24 to 28 (inclusive) of the 1954 Act at a current rental of 8,400 pax

Break Clause: If the Landlord shall desire the tenancy can be determined at any time after the 1st November 2010 by the Landlord giving six months previous notice in writing to the Tenant

Residential: The flats are all let on assured Shorthold tenancies at a current rental of £48,000 per annum.

Total Income: £56,400 per annum.

Please note: We have also been advised that the current shop could potentially be converted in to two studio residential dwellings making the entire unit residential only and that the two very visible flank walls could be used to place bill board signs. The combined income from these proposed ideas is approximately £24,000. This could increase the total income to: £80,400 and therefore a yield of approximately 10%.