Summary - 1c Ringslade Road, Wood Green N22 7TE
1 bed 1 bath Apartment
Immediate rental income in a well-presented compact flat near transport links.
Currently let at £950pcm providing immediate rental income
New long lease (around 123 years remaining), chain free sale
Low ground rent £60 per annum and cheap council tax
270 sq.ft (25 sq.m) compact open-plan studio with modern kitchen
Heating via electric room heaters only; no central heating
Solid brick walls likely without insulation; potential retrofit costs
Very slow broadband speeds in the area may affect tenants
Sold by auction — 4.5% non‑refundable reservation fee applies
This ground-floor studio in Wood Green offers a straightforward buy-to-let proposition with immediate rental income. The flat is currently let at £950pcm and comes chain free with a newly issued long lease (about 123 years remaining) and low ground rent of £60 per year, making ownership simple to manage. The 270 sq.ft open-plan space has modern finishes — fitted kitchen, wooden floors and double glazing — suited to single occupants or as a rental unit.
Buyers should note material practical drawbacks: heating is by electric room heaters only, the building appears to have solid brick walls with assumed no cavity insulation, and broadband speeds in the area are reported as very slow. Crime levels are above average locally; consider this for tenant profiling or security investment. The council tax band is described as cheap, which helps running costs.
This property is being sold by Modern Method of Auction. Completion is expected within 56 days and the buyer must sign a Reservation Agreement and pay a non-refundable Reservation Fee of 4.5% of the purchase price (minimum £6,600 inc. VAT) in addition to the price. Personal data will be shared with the auctioneer, and optional services recommended by the auctioneer may incur fees up to £450. Mortgage buyers should check lending suitability and inspect the property with their lender before bidding.
Overall this is a compact, well-presented studio that suits investors seeking an income-producing London asset with a very long lease and low ground rent; owner-occupiers should weigh the modest size, basic heating, and local broadband/crime factors.
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