The subject property is situated in a highly sought after enclave of roads in Highgate known as 'The Miltons'.
Highgate is one of the most desirable residential areas of North London. The property is conveniently located approximately 650m south of Highgate London Underground Station (Northern Line) and the same distance east of Highgate Village.
The property is well provided for in terms of local amenity. Archway Road is within 150m and has a broad selection of restaurants, bars and shops, including Co-op and Sainsburys Local. While Highgate Village provides mix of high street chains, pubs, restaurants and independent shops, which include; Tesco Express, Pizza Express, Caffè Nero, Strada, Côte Brasserie and Café Rouge, Le Pain Quotidien, Gails Bakery, Costa, The Angel Inn, The Bull, The Dukes Head, and The Flask.
Transport communications are excellent. Aside from access to the London Underground network at Highgate Station, there are several bus routes that run along Archway Road with connections to Finsbury Park, Brent Cross, Holloway and Crouch End.
Gross internal area 219.45 sq.m. /2362 sq.ft.
Total income passing p.a.: £47,760
The property comprises a terraced Victorian house which was converted pre 1960s to form four self contained flats and in the late 1990s reconfigured as five flats.
The flats were all originally let on Assured Shorthold Tenancies - we understand that the tenants are holding over under agreements that have expired and have periodic tenancies. There is good scope to improve the current rental income significantly.
The property has generally been maintained to a reasonable standard. The internal finishes, specification to the kitchens and bathroom / shower rooms are of a basic quality but are more than adequate for the rental market. Flat 1A has recently been improved with a new kitchen and refurbished shower room / WC. The shower room facilities to Flats 1, 3 & 4 would benefit from being upgraded.
In terms of development potential, the property has already been extended but there remains potential for conversion of the loft space and extension to the side of the back addition. The property could be retained in its existing arrangement or converted and refurbished to form a number of self-contained flats or reinstated to form a single family dwelling house. All subject to obtaining the necessary consents.
Freehold For Sale
Service charge: n/a
Local authority: London Borough of Haringey