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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.

Enquire about this lot:

JOINT AUCTIONEER:
George Eckert
Tel: 020 8883 3232 Ref: Anna Eckert
anna@eckert.co.uk

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,000 plus VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

Flats 2-60 (even), Gisburn Mansions, Tottenham Lane, Hornsey, London N8 7EB