ADDRESS Flat 8, Eagle Lodge Golders Green Road, London NW11 8BD
GUIDE PRICE* £550,000 - £575,000 +
Four Bedroom Flat With A Garage Refurbishment Opportunity Current Rental Income £54,000 pa - 9.82% Yield
£550,000 - £575,000+
• • • •
Eagle Lodge is located between Ravenscroft Avenue and Sneath Avenue in the popular Golders Green district of North London.
This property comprises five letting rooms, set on the prestigious “Bellway” built development. There is a well presented entrance hall leading to each of the flats. The flat is on the top floor and is currently arranged to provide five letting rooms, separate kitchen and a bathroom.
Auction Date: 18th - 19th December 2017 Guide Price: £550,000 - £575,000+ 5 letting rooms and a garage Refurbishment opportunity to add capital value • Rental income of £54,000 per annum • High yield of 9.82% based on the lower end of the guide price • Vacant possession on completion if required • Close to the city centre • Desirable residential location • Excellent transport links
Golders Green and Brent Cross Tube stations are locatiod less than half a mile away and provide excellent access to Central London via the Northern Line. To the east of Eagle Lodge, off the A502 junction there is a good selection of amenities, including; a cinema, a choice of restaurants and supermarket stores. The area is great for transport, with a variety of bus routes into and out of Central London. The southern end of the M1 motorway is located just 1.3 miles to the west and provides excellent access to the north of the country.
All rooms are neutrally decorated throughout and have wood laminate flooring. Most rooms have a shower cubicle, W.C and sink area. The kitchen has fitted base and eye level units, roll top work surfaces, tiled splashbacks, integrated oven and hob, breakfast bar and space for a washing machine. description continued..
*Guide Price: Each property is subject to a Reserve Price which may be different from the Guide Price
ONLINE AUCTION DATES 18th - 19th December 2017
VIEWING DETAILS [email protected]
0115 970 6060
Description Continued A programme of refurbishment and modernisation would provide purchasers with an opportunity to add good capital value. The property also benefits from a garage and off street parking. The flat is share of freehold.
Accomodation Letting room 1: 125ft2 (11.63m2) Letting room 2: 163ft2 (15.13m2) Letting room 3: 63ft2 (5.83m2) Letting room 4 158ft2 (14.72m2) Letting room 5: 97ft2 (9.00m2) Kitchen: 106ft2 (9.84m2) Bathroom: 96ft2 (8.95m2)
Investment Analysis The property is currently tenanted to Local Housing Authority tenants and generating a rental income of £54,000 per annum. Four tenants are paying £1,100 per calendar month and one tenant is paying £100 per calendar month but pays the bills for the flat. The rental income reflects a yield of 9.82%, based on the lower end of the guide price. The flat can be offered with vacant possession on completion, if required. A garage is included in the sale.
Services We understand the property has mains electricity, water and drainage.
Tenure Share of the freehold - please refer to the legal pack
Council Tax This property is rated in Council Tax Band E. The amount payable for 2017/2018 is £1741.89.
Buyer’s Premium 2% (minimum of £2,500) + VAT.
Disclaimer: John Pye Property is the trading name of John Pye & Sons Ltd whose registered office address is James Shipstone House, Radford Road, Nottingham, NG7 7EA (registered company number 02564753). John Pye Property for itself and for the vendors or lessors of this property, whose agent they are, give notice that: 1. The particulars have been prepared and issued in good faith and are set out as a general outline only for the guidance of intending purchasers and lessees and do not constitute part of an offer, contract or warranty. 2. Any information given should not be relied on as a statement or representation of fact or that the property or its services are in good condition. Any purchasers or lessees should satisfy themselves by inspection or otherwise as to the correctness of all the information or suitability of the property. 3. Any areas, measurements, floor plans or distances given are approximate only. 4. John Pye Property have not made any investigations into the existence or otherwise of any issues concerning pollution and potential land, air or water contamination. It is the responsibility of the purchaser to make its own enquiries. 5. None of the buildings services or service installations have been tested and are not warranted to be in working order. 6. All prices and rentals are quoted exclusive of VAT. 7. Copyright in these particulars vests in John Pye Property. 8. Neither John Pye Property nor any or their employees has any authority to make or give representation or warranty whatsoever in relation to the property.