SoldFreehold Ground Rent Investment For Sale - Palmers Green London N13

2 x two bedroom flats with c 59.5 years remaining

67 Palmerston Crescent,  Palmers Green, LONDON N13 4UD

Location

The subject property is located in Palmers Green a popular and improving North London suburb.  The property is situated on the south east side of Palmerston Crescent which runs west from Green Lanes (A105).

Palmers Green Railway Station (Zone 4) is located 500 metres to the north providing frequent services to London Moorgate.

Green Lanes provides numerous retail and leisure facilities including Starbucks, McDonalds, Barclays Bank, HSBC, Holland & Barrett, Costa Coffee, Boots and Waitrose.

Net internal area 132.00 sq.m. /1420 sq.ft. 

Ground Floor Garden Flat66.00 sq.m. / 710 sq.ft.
99 years from 24th September 1976. Ground rent passing £50 per annum increasing to £75 in 2042 for the remainder of the term.
First Floor Flat66.00 sq.m. / 710 sq.ft.
99 years from 12th July 1976. Ground rent passing £50 per annum increasing to £75 in 2042 for the remainder of the term.

Description

The property comprises two flats which have been converted from a semi-detached Edwardian house. There is one ground floor garden flat and one first floor flat.

Both flats have leases of 99 years from July/September 1976. There are therefore circa 59.5 years remaining on each lease.

The annual ground rent for each flat is as described in the schedule below.

Please note that the stated areas are approximate only.

Comparable evidence includes:

Ground floor garden flat, 50a Palmerston Crescent, 701 sq ft plus cellar which sold for £355,000 in October 2015, and

First floor flat, 32 Elmdale Road, c. 700 sq ft and with its own share of the rear garden which sold for £345,000 in September 2015

Terms

Freehold for sale subject to the two leases as described in the schedule. Please note that notices will need to be served on the leaseholders prior to the property being sold to comply with the legislation.

Service charge: The leaseholders are responsible for repairing and insuring the property. The ground floor flat includes the foundations and the first floor flat includes the roof.

Local authority: London Borough of Enfield


Property reference: 24272 Updated: 01 Jul 2016