Muswell Hill is a highly desirable, affluent north London suburb. The property is located on Kings Avenue, which is one of the ‘Royal Avenues’ and a premium residential location within the Muswell Hill conservation area.
The property is within 500m of Muswell Hill Broadway, a vibrant shopping precinct which features a mix of high street chains, pubs, restaurants, independent shops and leisure operators including; Sainsburys, Little Waitrose, Aldi, Miller & Carter, PureGym London, Kervan Sofrasi, Marks & Spencer, Gails bakery, Planet Organic, Franco Manca, Holland & Barrett and Everyman Cinema, as well as numerous other high street and independent eateries and retailers.
Access to green open spaces and ancient woodland is exceptional with Alexandra Palace Park and Highgate Wood both being within 760m of the property.
East Finchley and Highgate London Underground Stations (Northern Line) are approximately 1.3km and 1.8km from the subject property respectively, with numerous nearby direct bus routes to connecting either station.
Gross internal area 328.67 sq.m. / 3537 sq.ft.
Total income passing p.a.: £78,300
The property is a substantial semi-detached Edwardian house and is arranged as six flats (four studios and two 1 x bedroom flats). The property has been in the same family ownership for over eighty years.
The property is fully let with a current passing rent equating to £78,300 per annum. Five of the six flats are let on assured shorthold tenancies. The ground floor rear flat is let on a regulated tenancy with a passing rent accounting for £6,000 of the aforementioned annual rental income.
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 19a could benefit from a complete refurbishment.
In terms of development potential, the property has potential for a rear extension and for conversion and expansion of the existing 46.72 sq m (503 sq ft) basement level. The property could be retained in its existing arrangement or extended, reconfigured 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
By prior appointment with Gilmartin Ley, telephone 020 8882 0111.
Service charge: n/a
Local authority: London Borough of Haringey
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