SoldFreehold Ground Rent Investment For Sale - Palmers Green London N13

Ground rent income £400 pa from September 2016

31 Palmerston Crescent,  Palmers Green, LONDON N13 4UE

Location

The subject property is situated on the south east side of Palmerston Crescent which runs west from Green Lanes (A105). Palmerston Crescent is developed with two storey semi-detached houses some of which have converted into flats.

Palmers Green Railway Station is located 400 metres to the north providing frequent services to London Moorgate with a journey time of just under 30 minutes.

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

Site area 210.9 sq.m. /2270 sq.ft. / 0.05 acres 

1st floor flat125 years from 29th September 1991. Ground rent passing £100, doubling to £200 on 29th September 2016 and doubling every 25 years thereafter.
Ground floor garden flat125 years from 29th September 1991. Ground rent passing £100, doubling to £200 on 29th September 2016 and doubling every 25 years thereafter.

Description

The property comprises two converted flats: one ground floor garden flat and one first floor flat which includes the loft space but not the roof.

Both flats have leases of 125 years from 29th September 1991. There are therefore 101 years remaining on the leases.

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

Terms

Freehold for sale subject to 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 freeholder is responsible for repairing the common parts and structure, and for insuring the property. Each leaseholder has a 50% service charge liability.

Local authority: London Borough of Enfield


Property reference: 23837 Updated: 12 Dec 2015