Compact investment with character, tenants in place and short lease — cash buyers only..
Tenants in situ — income but no vacant-possession option
Cash buyers only — mortgage lenders likely to refuse
Short lease (~57 years) — extension likely necessary and costly
Sold at auction — non-refundable deposit and reservation fee apply
Small one-bedroom, 422 sq ft — compact living space
High ceilings and period features — character and rental appeal
Small garden included — outdoor space rare for a flat
Area: excellent transport links; crime rate above average
A compact one-bedroom first-floor apartment in a Victorian conversion, offered with tenants in situ and immediate exchange available. The flat sits within walking distance of Caledonian Road and Holloway Road stations, providing strong transport links to the West End and King’s Cross. High ceilings, period features and a bright open-plan kitchen/reception give the property character and rental appeal.
This lot is aimed at cash buyers and investors comfortable purchasing at auction. The property is sold via Secure Sale with online bidding; successful buyers should expect an immediate non-refundable deposit and a reservation fee on exchange. Tenants remain in place, so the purchase delivers existing income but limits vacant-possession options.
Buyers must note the lease has approximately 57 years remaining. This is likely to restrict mortgage availability and will require lease-extension costs or cash purchase. Service charge and ground rent are modest, but the building has solid-brick walls with assumed no cavity insulation and may need energy-related upgrades over time.
Practical positives include a small private garden, fast broadband and excellent mobile signal. Drawbacks to factor into bidding: short lease length, tenants in situ, auction fees and associated sale costs, and an area crime rate above average. Viewings are strictly by appointment and bidders must follow the auctioneer’s verification procedures.
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