The property comprises a 3-storey ‘shop and uppers’. The ground floor comprises the main office, kitchen, bathroom and external storage area extending to 696 sq. ft.
There is a separate self-contained storage unit to the rear which extends to 890 sq. ft*. We understand there was previously planning permission granted for the conversion of this into a residential 2-bedroom dwelling.
The top-floor comprises a 2-bedroom apartment, which extends to 779 sq. ft and is accessed from the front of the property; on Alderman’s Hill.
*Floor area has been taken from VOA. Buyers should make their own enquiries.
Location
The property is located in Palmers Green, a wellestablished and popular residential suburb in North London within the London Borough of Enfield. Alderman’s Hill is a busy and predominantly mixed-use area, characterised by a range of independent retailers, cafés, restaurants and professional services.
The property occupies a prominent position within an established parade of shops at the eastern end of Alderman’s Hill and benefits from an attractive outlook directly opposite Broomfield Park, a well-regarded public open space that enhances the appeal of the immediate surroundings.
The property enjoys excellent connectivity, with Palmers Green train station located just 0.1 miles away, offering frequent and direct services to key destinations including Moorgate. The location is also well-served by road networks, with easy access to the A406 (North Circular) and the M25, facilitating quick and convenient connections to surrounding areas, including major transport hubs and regional centres.
Accommodation
Ground floor - 696 sq ft
Storage Unit - 890 sq ft
Top Floor - 779 sq ft
Terms
Tenancy Schedule - see nrochure for information
The first floor unit has been sold off on a long leasehold for a term of 125 years with £100pa ground rent payable.
Planning - We have assumed that the property benefits from Planning Permission under use class both C3 and E, however buyers should make their own enquiries to satisfy themselves.
Tenure - NGL26396 (Freehold).
Services - We understand that all mains services are connected, but none have been tested. Interested parties are to rely on their own.
EPC - Commercial D Residential D
VAT - TBC
Legal Costs - Commercial D Residential D
Business Rates - Rateable value of £12,750 for the office and £6,000 for storage at rear in the 2023 rating list.
Data Room - Access to data room by request.
Anti-Money Laundering - To comply with our legal responsibilities for Anti-Money Laundering, it will be necessary for the successful bidder to provide information necessary to complete these checks before the deal is exchanged.
Information required will include:
1) Corporate structure and ownership details.
2) Identification and verification of ultimate beneficial owners.
3) Satisfactory proof of the source of funds for the Buyers/funders/lessee.
Proposal - Offers are invited for the Freehold interest in excess of £900,000.
Sale by Joint Receivers - The property is offer for sale on behalf of Nick Edwards and Graham Bushby, the Joint Receivers of GLD Property Investments Limited. The Joint Receivers offer no title or collateral warranties associated with this property or transaction. The Joint Receivers, their agents and representatives act without personal liability.
Specification
- Freehold investment opportunity
- Property located in Palmers Green
- Well located for Palmers Green train station, with regular direct services to Moorgate
- Current passing rent of £34,100 pa
- Vacant 2-bedroom flat
- Asset management and development potential STPP