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- A pair of adjoining buildings ideally located on Green Lanes only 0.2 miles from Palmers Green Mainline Station.
- Both buildings are arranged over ground, first and second floors.
- A total of eleven fully self contained flats arranged as follows:
• 196 Green Lanes – 1 x Studio and 4 x 1 bed.
• 198 Green Lanes – 2 x Studio and 4 x 1 bed. - The total NIA of the eleven flats is 4,337 sq ft.
- The flats are fully let and produce a total passing rent of £135,550 pa.
- There is significant potential to improve the rental level with the majority of flats operating under Periodic Tenancies.
- The ERV is approximately £150,000 pa.
- Tenants are responsible for all bills and council tax.
- Further development is possible by way of loft and rear extensions with the possibility of additional dwellings at the rear all subject to obtaining the necessary consents.
- Freehold.
- Offers In Excess Of £2,300,000 Subject to Contract which equates a Gross Yield on the passing rent of 5.9%, a reversionary gross yield based on ERV of 6.5% and a low capital value of £530 sq ft.
