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Avenue Road, London, N6

PROPERTY TYPE

Detached

BEDROOMS

15

SIZE

3,679 sq ft

342 sq m

TENURE
Describes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.

Freehold

Floorplan 1
1

Key features

  • 0.7 miles to Crouch Hill Overground Station
  • 15 fully self-contained flats
  • Income totals £210,908 per annum
  • Freehold
  • Residential Investment
  • Leased on an FRI basis for 12 years
  • Guide Price £2850000 STC
  • Net Initial Yield of 7%
  • Capital Value of£774 per sq ft

Description

Ideally located on a tree lined residential road, 0.7 miles (15-minute walk) to Crouch Hill Overground Station and 0.9 miles (16-minute walk) to Highgate Underground (Northern
Line) Station.

The building is a detached double fronted period property arranged over lower ground, ground and two upper floors with a large share d garden.

Comprises 15 fully self-contained flats - 12 x studios and 3 x 1-bedroom flats with a total NIA of 3,679 sq ft.

The building is let on an FRI lease to Independent Housing UK Limited, expiring October 2037 with a landlord option to extend by a further 5 years.

Independent Housing UK Limited (IHL) is a registered charity and a not for profit organisation, incepted in March 2007, their latest reported accounts posted a turnover of £9.3M. They benefit from a D&B rating of A1.

Income totals £210,908.47 per annum, the leases benefit from annual CPI-based rent reviews, capped at 4%.

The current rent reflects a low passing rent of £270 per week per unit, which is 19% lower than LHA rates and significantly below open market rental values.

Freehold.

PROPOSAL
We are instructed to seek £2,850,000 (Two Million Eight Hundred and Fifty Thousand Pounds) subject to contract. This equates to a Net Initial Yield of 7% and a capital value of £774 per sq ft.

Brochures

Brochure 1
COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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GARDENA property has access to an outdoor space, which could be private or shared.
Yes
ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent

Avenue Road, London, N6

Approximate location
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About ESTATE OFFICE INVESTMENTS LIMITED, London

Ground Floor 1 Finchley Road, London, NW8 9TT

A London based boutique property consultancy with a global track record. We are investment and development land specialists, primarily selling land and buildings with and without planning permission, with a focus on residential blocks and commercial investment opportunities in retail, leisure and office space. We also act on behalf of clients on residential and commercial acquisitions.

Established in 1983 with exceptional combined experience, our dynamic team of fourteen work tirelessly to deliver the best possible outcomes for our clients. Entrepreneurial in style with the success which comes with several decades of service, our clients see Estate Office as their long-standing agency of choice

Your mortgage

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Monthly repayments
£12,997
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Disclaimer - Property reference 6_Avenue_Road. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by ESTATE OFFICE INVESTMENTS LIMITED, London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited.
**This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.

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