Summary - 1c Ringslade Road, Wood Green N22 7TE
1 bed 1 bath Apartment
Chain-free ground-floor buy-to-let with immediate rental income potential.
Chain-free ground-floor studio with long lease (new 125-year lease)
Currently let at £950pcm — strong gross yield (~11.4%)
Compact 270 sq ft with modern kitchen and wooden floors
Sold at auction — 56‑day completion and non-refundable reservation fee applies
Slow broadband and electric room heaters, no gas central heating
Solid brick walls assumed without cavity insulation — potential retrofit costs
Above-average local crime statistics; may need security improvements
CPZ parking; ground rent £60 per annum, low council tax
This ground-floor studio in Wood Green is offered chain free with a new 125-year lease (about 123 years remaining) and is currently let for £950 pcm, delivering a strong gross yield around 11.4% at the guide price. The compact, modern interior includes fitted kitchen units, wooden floors and double glazing, making it easy to manage for a buy-to-let investor or a first-time purchaser seeking a straightforward rental income.
Buyers should note this sale is by the Modern Method of Auction. Completion is required within 56 days and the purchaser must sign a Reservation Agreement and pay a non-refundable Reservation Fee of 4.5% of the purchase price (minimum £6,600 including VAT) in addition to the price. These costs are material to the purchase calculation and will be considered within Stamp Duty Land Tax calculations.
Practical considerations include slow broadband speeds and electric room heaters rather than gas central heating, which may affect appeal to some tenants. The building appears to be solid-brick construction with no assumed cavity insulation and sits in an area with above-average crime statistics, so a buyer should factor potential retrofit or security improvements into running costs.
On the positive side, the property is small (270 sq ft) and low-maintenance: double glazing is already installed, ground rent is only £60 per annum, and council tax is low. Controlled Parking Zone (CPZ) on the street and excellent mobile signal suit modern, on-the-go tenants. For an investor seeking immediate rental income and a long lease, this property offers clear, hands-on potential; for an owner-occupier, confirm suitability with a lender and consider the auction costs and electric heating implications before bidding.
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