Flats 1-11 The Gables, Holden Avenue, London N12 8HX

Description

The property is arranged to provide 11 flats and garages all sold on long leases. The property may offer potential for upward extension through the addition of a further storey, potentially providing additional residential accommodation, subject to all necessary consents and structural considerations. VAT not applicable.

Accommodation

11 flats, each with a garage.

Location

Situated on Holden Avenue in North Finchley, within the London Borough of Barnet, in an established residential area predominantly comprising houses and purpose-built flats. North Finchley town centre is nearby. The property is also well placed for the amenities of Woodside Park, Whetstone and Totteridge and for access to the wider North London road and public transport network. Woodside Park Underground Station is located within close proximity.

Tenure / Property Information

Investment Analysis

The £20,000 guide appears to relate to the freehold interest in 11 flats and garages, each already subject to a long lease. The evidenced income is limited to ground rents of £150 per annum from five flats, with peppercorn rents on the remaining six, giving total stated ground rent of £750 per annum. No completed sales, market valuation, residential rent evidence or auctioneer rent estimate is supplied, so a GDV or supported maximum bid cannot be established. The possible upward extension is only a potential opportunity and is subject to consent and structural considerations.

Investment Snapshot

Strategy Recommendation

Treat as a specialist freehold ground-rent/reversion opportunity only after reviewing every lease, management obligation, title restriction, service-charge position and all auction special conditions. Do not rely on the potential extension without professional planning and structural due diligence.

Works Required

No refurbishment works are evidenced. Investigate the leasehold structure, management obligations, building condition and the feasibility of any upward extension; any extension would require all necessary planning, building control and structural consents.

Rental & Market Context

Potential BRRR Position

BRRR is not supportable on the supplied evidence. No GDV, refurbishment budget, residential rent, mortgage valuation or refinance basis is available. The long leases and possible extension may affect value, but the extension opportunity remains subject to consents and structural feasibility.

Buy-to-Let Analysis

This is not supported as a conventional buy-to-let appraisal because the flats are sold on long leases and no residential passing rents or rental comparables are provided. The evidenced income is £750 per annum of ground rent, equating to a simple 3.75% gross yield against the £20,000 guide before unknown acquisition and seller charges. This is a ground-rent yield, not a residential rental yield.

Flip Analysis

A flip analysis cannot be established because no GDV, comparable sales, refurbishment costs or supported selling allowance is supplied. The asset is a freehold interest with long-leased flats rather than clearly evidenced vacant accommodation ready for resale.

Investor Risks & Due Diligence

• All flats are subject to long leases, so control and income are governed by the individual lease terms.

• Only £750 per annum of ground rent is evidenced; no residential passing rents or external rental comparables are supplied.

• Seller, auctioneer and third-party additional charges are not quantified, and the auction conditions should be checked for VAT and other liabilities.

• Upward extension is only a potential opportunity and is subject to planning, building control, structural and other necessary consents.

• EPC, council tax, heating and detailed condition information are not supplied.

• The unexpired lease terms, repairing obligations, insurance responsibilities, service-charge arrangements and enforceability of ground rents require legal review.

Recommendation

Treat as a specialist freehold ground-rent/reversion opportunity only after reviewing every lease, management obligation, title restriction, service-charge position and all auction special conditions. Do not rely on the potential extension without professional planning and structural due diligence.

Strategy Rating

Analysis Confidence

The guide price, freehold structure, lease terms, garage provision and ground rents are supplied, but there are no comparables, residential rents, GDV evidence, condition information, buyer/admin fee figures or confirmed development consents.