186a Burnt Oak Broadway, Edgware
- Modern condensation combi-boiler and central heating system
- Recently installed uPVC double glazing throughout, inc. Juliet balcony
- Brilliant long lease (158yrs) with nil ground rent and nil service charges
- Excellent High Street location. 24mins tube to Euston. 5mins to M1/A1
- Recently installed Italian granite kitchen bathroom shower-room
- All furniture and kitchen appliances included in the valuation
- Modern beech laminate flooring and carpets throughout
- Unlimited free car parking at the rear (no permits required)
- Excellent central high street location
Property Summary**If you like to view the property. Please call at 07454 753318
186a Burnt Oak Broadway, Edgware, HA8 0AS (itourspro.com)
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 4 bedrooms (4 double and 1 single), 2 bathrooms, a large kitchen, a separate dining room (can be used as a bedroom) 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 good tenants on an AST for many years generating excellent secure rental income. Vacant possession is also available if required. The property is self-contained with its own rear entrance and private south-east facing seating area including a flowerbox. Safe and secure private block (not ex-council).
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
The total secure current rental income is £20,400 PA. 100% tenant occupancy consistently being achieved over many years.
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 lower 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% SDLT property stamp duty and also saving you on future taxes (i.e. company corporation tax only 17% vs 40% income tax, and also 100% of all interest payments will continue to be tax-deductible). Low-interest bank financing is available at around 85% LTV (subject to good credit history).
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. Proof of liquid funds or mortgage offer required upfront in advance of any viewings or offers. 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.
For further information please contact Midas Property Group.
**If you like to view the property. Please call at 07454 753318