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Property for sale

High Street, Crouch End, London

Guide Price* £585,000

Property Description

Key features

  • For Sale By Auction: 27th & 28th February 2019
  • Guide Price: 585,000+
  • 2 x 1 Bedroom Apartments
  • Recently Renovated To A High Standard
  • Fantastic Addition To A Rental Portfolio
  • Current Rental Income: (See Tenancy)
  • Estimated Full Rental Value: 30,160 pa
  • Walking Distance to Turnpike Lane Station
  • Good potential for increase in capital value
  • Leasehold - 97 Years remaining

Full description

•COMPRISING 2 SELF CONTAINED 1 BEDROOM APARTMENTS
•For Sale By Online Auction: 27th & 28th February 2019
•Guide price: £585,000+
•Current Rental Income: (See Tenancy)
•Estimated Full Rental Value: £30,160 pa
•15 minutes' walk to Turnpike Lane
•Adjacent to Priory Park
•Recently Renovated To A High Standard

An investment opportunity comprising two one-bedroom apartments on the High Street, Crouch End with good potential for capital value increase. There are two flats spread across the upper floors of the building which have recently been renovated to a high standard.

Crouch End is situated to the North of Muswell Hill & Wood Green. The area has always been popular with those looking for greener space whilst having easy access into The City. Whilst the area offers
fantastic commuting options it also offers residents a plethora of shops and local eateries at Crouch End Broadway.
The High Street consists of a plethora of bars, restaurants and cafes and is served by numerous bus routes giving access to Muswell Hill, Crouch End, Finsbury Park and Turnpike Lane.

Description Continued - Both flats underwent an extensive refurbishment completed in September 2016. The building was stripped back to brick and brought up to modern new build standards with new double glazing, new roofing, engineered wood flooring, new bathrooms & kitchens, and new services. As a 2 floor maisonette Flat 2 Benefits from a potential increase in living space by adding a balcony space over the flat roof that makes up the rear area of Flat 1, The roof has already been made structurally strong enough to account for the additional space.
An inventory of the works carried out can be made available at request.

Accommodation - Accommodation
Flat 1:
Lounge/Diner – 7.26 x 5.08 max
Bedroom – 3.25 x 3.12
Bathroom - TBC
TOTAL – 49 Meters Sq (Taken From EPC)

Flat 2:
Lounge/Diner – 5.05m x 5.49 max
Bedroom – 4.88m x 4.72m
Bathroom – 3.02m x 2.33
TOTAL – 67 Meters Sq (Taken From EPC)

Tenancy - Flat 1 is currently tenanted with an assured short-hold tenancy in place until 24th January 2020 at a monthly rental of £1,180PCM.
Flat 2 is currently tenanted with a 2-month rolling contract on a reduced monthly rental of £750PCM for the provision of viewings. Two months’ notice to vacate can be given by the tenant or landlord at any time.

Services - We understand the property has mains gas, electricity, water and drainage however interested parties should carry out their own investigations in this respect.

Ground Rent & Service Charge - The service charge is zero and the ground rent is £500 pa

Tenure - Leasehold - 97 years remaining

Buyers Premium - Buyers premium of 2% (inc VAT) payable (min £3,600).

Sell Your Property - If you are thinking of selling your property, contact us now for a free appraisal and benefit from:
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Investment Analysis
As a welcome addition to any performing lettings portfolio, once fully let at full market rent the combined rental income from both flats is expected to be in the region of £30,160 pa. Flat 2 is currently let at below market rent, however, this can be increased by negotiation with current tenant or by re-letting the flat once vacant possession has been obtained.
The scope of the works completed in 2016 would mean that little money would need to be injected into the properties in the short term.


More information from this agent

Energy Performance Certificate (EPC) graphs

Listing History

Added on Rightmove:
30 January 2019

Nearest stations

  • Hornsey (0.4 mi)
  • Alexandra Palace (0.8 mi)
  • Turnpike Lane (0.8 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

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To view this property or request more details, contact:

John Pye Property, Nottingham

James Shipstone House, Radford Road, New Basford, Nottingham, NG7 7EA

0115 798 0657 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans

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Floorplan 1

Flat1FP.JPG

Floorplan 2

Flat 2 FP.jpg

To view this property or request more details, contact:

John Pye Property, Nottingham

James Shipstone House, Radford Road, New Basford, Nottingham, NG7 7EA

0115 798 0657 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Hornsey (0.4 mi)
  • Alexandra Palace (0.8 mi)
  • Turnpike Lane (0.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

John Pye Property, Nottingham

James Shipstone House, Radford Road, New Basford, Nottingham, NG7 7EA

0115 798 0657 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 28509691. 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 John Pye Property, Nottingham . 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.

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call John Pye Property, Nottingham on 0115 970 6060.


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