FANTASTIC LARGE MAISONETTE ON THE MAIN HIGH STREET. A truly unique and exceptional investment opportunity consisting of a 3 storey maisonette above a shop on the main High Street in Edgware (zone 4). This maisonette has 5 bedrooms (4 double and 1 single), 2 bathrooms, a large kitchen and a separate lounge. The property stretches over 3 floors including a loft double bedroom (note this has steep steps and a sloping ceiling). The property is currently let to the same tenants on an AST for the last 3 years generating excellent secure rental income. Vacant possession also available if required. The property is self-contained with its own rear entrance and private seating area including a flowerbox. Safe and secure private block (not ex-council).
DESCRIPTION SUMMARY
Significant recent investment has been made, including a new roof, new uPVC double glazing, new Velux window, new vertical blinds, new kitchen with granite worktops, new condensation combi-boiler, new electrics, new shower room, new bathroom and new carpets.
It has the dual benefit of an excellent central high street location (opposite Iceland supermarket and close to the tube station & a dozen bus routes) combined with free unlimited plentiful on & off-street parking without any cost or need for parking permits.
EXCELLENT INVESTMENT RETURNS
Total secure current rental income is £20,400 PA. 100% tenant occupancy consistently being achieved over many years. This yield of nearly 6% PA is difficult to achieve from a private block in N. London in this day and age. Furthermore another annual rent increase is now due and there is great potential for significant capital growth in the value of the property. When calculating your profitability and net return also please consider that your annual costs will unbelievably low with this property. For example, your ground rent is £nil, management fees are £nil and service charges are £nil – compare this to other maisonettes/flats where you will be paying out thousands of pounds a year for such unnecessary costs. You would struggle to find such fantastic profitable private property investment elsewhere in North London. SPV limited company structured sale can be agreed to avoid you paying conveyancing fees, 5 or 8% SDLT property stamp duty and also saving you on future taxes.
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This property is easy to self-manage due to the large amounts recently spent by the current owners in refurbishing it, so no large refurbishment or repair bills surprises in the near future. There is a good relationship with the current long-standing tenants but vacant possession can be provided upon request. Would ideally suit an investor seeking to retire with secure life-long future cash-flow income.
Further details will be provided to serious verified applicants only. Viewing is strictly by prior appointment only.
SUPERB CENTRAL LOCATION
Location, location location....the property is situated on the High Street which is in the town centre making it very attractive to tenants. This area is a popular suburb of North London, not far from Brent Cross Shopping Centre, Wembley, the M1, A1 and North Circular Road. Frequent direct bus services run from here to numerous places including Central London. The property is located only 5 mins away from the newly widened 5-lane M1. The A1 is also not far. The open spaces such as Aldenham Country Park, Welsh Harp, golf courses and the rural English countryside are only a few minutes away. All these key location factors ensure this maisonette will always remain highly popular and 100% occupied.
NEWLY NEGOTIATED LONG-LEASE - ADVANTAGES
A major plus point is that the current owners recently spent a huge amount in professional fees and premiums to extend the lease to 158 years. You would now therefore benefit from nil annual ground rent, nil annual service charges and nil management fees to pay to external agencies.
THE VENDORS ARE SEEKING GENUINE OFFERS FROM INVESTORS WITH PROVEN FUNDS.
**ADDITIONAL BONUS**
There is valuable landlord furniture, fixtures, fittings, white appliances which are all included in the sale price
Outside - Rear
This is the main entrance to the flat via black iron stairs (entrance door is at first floor level). There is a small seating area and flower box.
Entrance Hallway
L-shaped hallway with laminate flooring and containing a radiator.
Kitchen
11' 2" x 8' 2" (3.40m x 2.49m)
Recently installed black sparking granite worktops together with Ferrari Italian designer wall and floor units. Modern tiled wall and floor tiles. Washing machine, 2 tall fridge/freezers, oven, gas hob, extractor fan, integrated steel microwave and double steel sink. There is a recently installed Potterton Titanium boiler. Window has ventilation unit. Ceiling spotlight.
Living Room
16' 9" x 10' 2" (5.11m x 3.10m)
Three uPVC double glazed windows with vertical blinds, central heating radiator and TV/cable point. There is carpet on the floor with laminate flooring underneath.
Shower Room
7' 9" x 2' 10" (2.36m x 0.86m)
The room contains a newly installed shower cubicle, WC and basin. There is a mirrored wall unit, LED ceiling light, modern ceiling cladding and an extractor fan. Fully tiled.
Bedroom
11' 8" x 10' 2" (3.56m x 3.10m)
This double bedroom is on the same floor as the lounge/kitchen. It has a large window with vertical blinds. Central heating radiator. Carpeted flooring.
Bedroom
16' 8" x 10' 3" (5.08m x 3.12m)
Double bedroom to the front of the first floor. This room has 2 uPVC windows and a uPVC door leading to a Juliet balcony. There is a gas radiator, carpeted flooring and vertical blinds.
Bedroom
11' 8" x 10' 2" (3.56m x 3.10m)
This double bedroom is on the upper floor and has carpeted flooring, a double gas radiator and window with vertical blinds.
Bedroom
12' 0" x 5' 10" (3.66m x 1.78m)
This is a single bedroom on the upper floor. It has a window with vertical blinds and carpeted flooring. Gas radiator.
Bathroom
11' 6" x 5' 3" (3.51m x 1.60m)
This recently refurbished bathroom is on the upper floor. It has a large steel bath, mixer taps with shower hose and a glass shower curtain. There is a matching WC and basin with a mixer tap and wall mirror. The walls and floors were recently tiled. Ceiling spotlights. Gas radiator.
Attic Room / Attic Conversion
16' 9" x 16' 6" (5.11m x 5.03m)
This is a large double bedroom in the loft accessible with steep steps. It has carpeted flooring and a velux window. The ceiling is part-sloping. Electrical radiator.
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