Offers over
£1,350,000
(£652.17/sq. ft)
Block of flats for saleHaringey Park, London N8
2,070 sq. ft
About this property
An opportunity to acquire an attractive Victorian building located in the heart of Crouch End, North London.
The property is located just 0.2 miles from the centre of Crouch End and walking distance to both Harringay (Thameslink) and Crouch Hill (Overground) stations.
The building comprises a total of 8 self-contained apartments, 7 x studios and 1 x 1 bed, providing a total NIA of 2,070 sq ft.
The asset is let on an Fri lease to Independent Housing UK Limited, expiring October 2037 with a landlord option to extend by a further 5 years.
Independent Housing (UK) Limited (ihl) is a registered charity and a not for profit organisation, incepted in March 2007, their latest reported accounts posted a turnover of £9.3M. They benefit from a D&B rating of A1.
Income totals £99,962 per annum, the leases benefit from annual cpi-based rent reviews, capped at 4%.
The current rent reflects a low passing rent of £239 per week per unit, which is 10% lower than lha rates and well below open market rental values.
Freehold.
Proposal
Offers in Excess of £1,350,000 (One Million Three Hundred and Fifty Thousand Pounds) subject to contract, reflecting a Net Initial Yield of 7%, assuming standard purchasers costs of 5.8% and a low capital value of £652 psf.
The property is located just 0.2 miles from the centre of Crouch End and walking distance to both Harringay (Thameslink) and Crouch Hill (Overground) stations.
The building comprises a total of 8 self-contained apartments, 7 x studios and 1 x 1 bed, providing a total NIA of 2,070 sq ft.
The asset is let on an Fri lease to Independent Housing UK Limited, expiring October 2037 with a landlord option to extend by a further 5 years.
Independent Housing (UK) Limited (ihl) is a registered charity and a not for profit organisation, incepted in March 2007, their latest reported accounts posted a turnover of £9.3M. They benefit from a D&B rating of A1.
Income totals £99,962 per annum, the leases benefit from annual cpi-based rent reviews, capped at 4%.
The current rent reflects a low passing rent of £239 per week per unit, which is 10% lower than lha rates and well below open market rental values.
Freehold.
Proposal
Offers in Excess of £1,350,000 (One Million Three Hundred and Fifty Thousand Pounds) subject to contract, reflecting a Net Initial Yield of 7%, assuming standard purchasers costs of 5.8% and a low capital value of £652 psf.
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