The property comprises 6x 2-bedroom maisonettes and 2x 1-bedroom flats as well as 4 commercial units.
The 2-bedroom maisonettes extend to approximately 1,173 sq. ft* with an additional single integrated garage on the ground floor. Each maisonette benefits from 2 balconies; one on each floor. The master bedroom includes an en-suite and a family bathroom serves the second bedroom. The living space is open plan and occupies the whole of the second floor in an open-plan configuration.
The one-bedroom flats extend to approximately 549 sq. ft* each and have a balcony off the living area.
The ground floor commercial units benefit from planning use class E. Three of the commercial units extend to approximately 388 sq. ft, and the other extends to approximately 409 sq. ft.
The site extends to c.0.291 acres.
There are 6x garages for parking belonging to the 6 duplexes.
*Floor areas are inclusive of balconies and garages and have been taken from a previous valuation. Buyers should make their own enquiries.
Location
The property is located in Palmers Green, in north London, within the London Borough of Enfield.
The property is situated just behind Green Lanes; within walking distance of all the local amenities. Palmers Green is a vibrant neighbourhood which has benefitted from continued investment, with a range of both local boutique shops / restaurants and larger national businesses.
Accommodation
Six 2-bedroom maisonettes with garages and two 1-bedroom apartments
Four commercial units with potential conversion to residential STPP
Total GIA: 9,711 sq. ft
Terms
PRICE - Offers are invited in excess of £4,000,000 for the freehold interest
PLANNING - Planning permission was granted in 2018 for ‘Demolition of existing buildings and redevelopment by the erection of a 2 and 3-storey block comprising 4 commercial units (Use Class B1(a) Office) at ground floor level with 8 self-contained residential units above (2 x 1-bed, 6 x 2-bed) and associated car parking.’ (18/04953/FUL).
CONSTRUCTION DOCUMENTATION - A suite of construction documentation is available within the data room. Access is available by request.
REMAINING WORKS - Snagging works are currently being undertaken however it is anticipated that the residential elements of the property will be completed at the point of sale. Commercial units will be left in a shell and core condition to be fitted out by an incoming purchaser.
TENURE - MX410887 (Freehold).
SERVICES - We understand that the property benefits from Electricity, Water and Mains Drainage. As this is a sale on behalf of Receivers, buyers should rely on their own enquiries regarding service availability.
EPC - TBC following completion of the works.
VAT - TBC.
LEGAL COSTS - Each party to be responsible for their own costs incurred in the transaction.
SALE BY RECEIVERS - The property is offered for sale on behalf of Nathan Pask and Andrew Foster, the Joint Receivers (“the Receivers”). The Receivers offer no title / warranties associated with this property or transaction. The Receivers act without personal liability.
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.
Specification
- Recently completed development
- Benefiting from ICW new-build warranty
- Freehold
- Vacant
- Six 2-bedroom maisonettes with garages and two 1-bedroom apartments
- Four commercial units with potential conversion to residential STPP
- Total GIA: 9,711 sq. ft