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Freehold Investment and Development Opportunity - London N18

Vacant possession of ground floor and basement

  • For sale
  • For sale
  • For sale
  • For sale
  • For sale
  • For sale
  • For sale
  • For sale

Location

The subject property is located on the south side of Denton Road in a prominent corner position in a predominantly residential location. The property benefits from Pymmes Park located 70 metres to the east of the property featuring Metropolitan Open Space and a number of recreational facilities.

The property has excellent transport communications being 0.23 kilometres (0.12 miles) north of Silver Street which provides access onto the North Circular Road (A406) 0.33 kilometres (0.20 miles) south of the property, which in turn leads to the main road communications including easy access to A10, M25, M11 and M1.

Silver Street Rail Station (London Overground Line) is circa 0.52 kilometres (0.32 miles) to the south of the subject property. Silver Street Station provides frequent and direct services to Seven Sisters Station (Victoria Line) in a journey time of circa 6 minutes & London Liverpool Street Station with a journey time of circa 25 minutes.

The property is also located only 1.46 kilometres (0.90 miles) to the north of White Hart Lane Station, which has been significantly improved as part of the regeneration in the area spearheaded by the new Tottenham Hotspur stadium, a museum and hotel.



Property reference:27864    Updated: 22 Jun 2020


10 Denton Road,  Edmonton, 
LONDON N18 1RU

Guide price £150,000 subject to contract


Features

  • Suitable for a number of alternative uses (subject to obtaining the necessary consents)
  • Vacant possession of shop and basement
  • Lock up garage with forecourt parking for 1 vehicle, with additional off street parking for 1 vehicle to the front
  • Reversionary ground rent investment in respect of ground floor flat (circa 64 years remaining)
  • Excellent transport communications
  • Silver Street Rail Station (London Overground Line) is circa 0.52 kilometres (0.32 miles) to the south.
  • London Liverpool Street Station with a journey time of circa 25 minutes

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The subject property comprises an end of terrace building providing accommodation over basement, ground and first floors together with garage and off road parking. 

The property will be sold with vacant possession of: the ground floor and basement unit, the front off street car space and a rear garage with adjacent forecourt which is directly accessible from Warwick Road.

Historically the ground floor level had been used as a mini-cab office and the basement for storage, however this unit has been vacant for over ten years.

There may be potential to develop the ground floor and basement levels into a number of alternative uses including; retail, offices and/or residential accommodation (subject to obtaining the necessary planning consents). 

The property includes two flats. The residential parts comprise a 1 x one bedroom ground floor garden flat and 1 x first floor two bedroom flat. Both have been sold off on long leases: the lease of the first floor flat expires in 2174 and the ground rent is a peppercorn; the lease of the ground floor flat expires in June 2084 (reversion in 64 years). The ground rent income from the ground floor flat is £150 pa, rising to £300 in 2051. 

Viewings

By prior appointment with Gilmartin Ley, telephone 020 8882 0111.

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Accommodation

Ground Floor 23.16 sq.m. / 249 sq.ft.
Floor to ceiling height 3.23m
Basement 43.92 sq.m. / 472 sq.ft.
Floor to ceiling height 1.60m
Gross internal area 67.08 sq.m. /722 sq.ft. 

Terms: Freehold with vacant possession of ground floor and basement, front car space and rear garage / forecourt and subject to a long lease in the first floor flat expiring 2174 at a peppercorn ground rent and a long lease of the ground floor flat expiring 2084 with a current ground rent of £150 pa, rising to £300 pa in 2051.

Service charge: Nil

Local authority: London Borough of Enfield