5 bedroom block of apartments for sale
Key information
Property description & features
- Tenure: Leasehold (990 years remaining)
- Investment / Asset Management Opportunity
Rare opportunity to acquire this ready-made investment comprising 5 self contained flats in the heart of Golders Green. Situated above shops on Golders Green Road, on one long leasehold title (999 years), the property comprises 4 x 1-bed and 1 x studio flat. The flats are accessed either from Golders Green Road at the front or from Accommodation Road to the rear.
Golders Green is a sought-after and affluent suburb situated approximately 5 miles north-west of Central London which is well served by Golders Green Underground Station (Northern Line).Situated at the North end of Golders Green Road, the flats are a just a few minutes walk to Golders Green Station.
The flats were created in 2009 with full planning permission and building regulations. The accommodation comprises:
• 5 Self Contained Flats (3 x 1-bed, 1 x 1-bed duplex, 1 x studio)
• 990 year lease held on one title
• Current Income £66,600 per annum
• Potential to increase rents and/or convert to HMO or Serviced Accommodation, subject to necessary consents
• £1,150,000 STC
There is scope to improve the flats and increase the rents. Some of the tenancies have been in place for quite a number of years without having had any increases on the rent. In addition, there may be scope to alter the use of the building to HMO or serviced accommodation, subject to the necessary consents.
Floor plans:
These are available upon request.
Price:
£1,150,000 subject to contract.
Tenure:
Leasehold – 990 years remaining
Ground Rent:
Peppercorn
Service Charges:
TBA but we understand these to be minimal, namely the buildings insurance and cleaning of the corridors.
VAT:
The building has not been elected for VAT
Legal Costs:
Each party to bear their own legal costs.
Viewings:
Viewings can be arranged via Sole Agents GLPC
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