Studio flat for sale

GROUND RENT INVESTMENT HELD OVER 23 APARTMENTS (8 OF WHICH HAVE CIRCA 50 YEARS UNEXPIRED) CURRENTLY PRODUCING ?1,900 P.A. (RISING TO ?2,700 IN 2026) WITH POTENTIAL TO DEVELOP THE ROOFSPACE AND PROVIDE 9 NEW APARTMENTS LOCATION & DESCRIPTION Halliwick Court is a crescent shaped, three storey building, comprising retail shops to the ground floor, with the upper parts comprising 23 apartments, each of which have been sold off on long leases. We are offering for sale the head leasehold interest of the upper parts, held by way of a 999 year head lease (from 1985). The apartments currently produce a collective ground rent of approximately ?1,900 per annum, rising to ?2,700 in 2026. The ground floor shops do not form part of the demised premises. The property occupies a prominent corner position at the junction of Woodhouse Road and Colney Hatch Lane in Finchley, within the London Borough of Barnet. Woodhouse Road provides access to major routes like the A1000, and the North Circular Road. Halliwick Court is close to both Finchley Central and West Finchley stations, both served by the Northern Line, making it a convenient spot for commuters heading into central London. The surrounding area is a mix of residential homes, with nearby parks like Friary Park offering pleasant green spaces for residents to enjoy. Schools, local shops, cafes, and other amenities are within easy reach. TENURE Head lease of the upper parts for a term of 999 years from 1985 at an annual ground rent of ?125 PLANNING There is lapsed planning permission for conversion of the loft space above the second floor flats, with a more recent scheme having been drawn up to provide 9 flats of various sizes within the loft space; this would provide a further 4,541 Sq Ft (422 Sq M) of accommodation. Some works were undertaken to implement this lapsed consent including provision of half landings. This scheme was submitted for planning approval in May 2021, but was subsequently withdrawn in April 2023. Prospective bidders should refer to the London Borough of Barnet Planning Department and the auction legal pack for further details. LEASE DETAILS Eight of the flats have circa 50 years unexpired on their current leases. The most recent renewal premium paid by another of the flats in February 2022 was ?46,730. That flat had 53 years unexpired. TENANCY DETAILS The table attached illustrates the schedule of ground rent charges, provided to Strettons by the seller. It is understood that the Freeholder insures the building. The block service charge managers are appointed by the Management Company appointed by the lessees. NOTE Contact: andrew.brown@strettons.co.uk Tel: 0208 5094470