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5 bedroom semi-detached house

Chain-free

020 8033 5098

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Semi-detached house

5 bed

5 bath

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Property description & features

Semi detached residence over three floors
Previously rented as 5 seperate self-continued Units
Investment opportunity
Previously rental income of over £75,000* per year
Selling vendor willing to work with incoming purchaser on retrospective planning consent
Vacant & Offered Chain Free

A unique and rare investment opportunity is this large three storey Semi-Detached Freehold House of character divided into Five self-contained flats. Family owned since 1974. The house is furnished and equipped. It has a Three-Phase Power Supply but single meter. There is a Fully Automatic Fire Detection and Alarm System. There is only one Gas Appliance - the Gas Boiler; all Flats have Electric cooking, showers and washing machines. The property [ gross 2557 sq. ft.] offers scope to extend upper floors subject to planning.The buyer will have a number of option:-Continuation of Lettings - Previous gross monthly rent from the 5 flats was circa £6300 per calendar month (the cost of Utility Bills and Council Tax was included within the rents).Convert into Luxury HMO - (Subject to Planning) The House was a registered HMO in 2004 until 2006 when HMO definitions changed. With simple changes, it can be turned into a Luxury HMO with 9 Bedrooms, 5 Bathrooms and a gym within the large garden and bike parking.Formalise the Flats - There is a robust case for securing a Certificate of Lawfulness for the 5 existing flats. There is evidence going back to 2004 as well as a record in the Council's files of "Deemed Consent" given confirmed in 2013. The vendor will offer assistance to the buyer on this matter between any exchange & completion agreed.

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Castles Estate Agents - Palmers Green

78 Green Lanes Palmers Green, London N13 6BE

020 8033 5098

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Castles Estate Agents Palmers Green have been helping people in the Palmers Green area with residential property sales, residential lettings, property management and property investments for a number of years. Our expertise within the Palmers Green property market is unrivalled. Whether you are looking to sell or buy a home, rent or let out a property or seek best advice and help with your property investments then we are the estate agent for you.

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Property reference 11000495. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Castles Estate Agents - Palmers Green.

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Broadband availability and predicted speed

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Mobile phone signal availability and predicted strength

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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
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