Investment Properties: Ground Floor, 3 Palace Court, 250 Finchley Road, London, NW3

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Ground Floor, 3 Palace Court, 250 Finchley Road, London, NW3

Guide Price £250,000 STC - 150 year lease from 1971

  • Located in north-west London on Finchley Road and close to local amenities.
  • Finchley Road & Frognal station (Overground) is just a six minute walk from the property.
  • Occupational Lease:
              Let to Eileen Johnston t/a Eileen Johnston Interiors.
              Start date – 20th Feb 2017.
              Rent - £15,000 pa.
              Term – 5 years, expiring 31st December 2021.
              Outside the provisions of the 1954 L&T Act.
              Mutual Break after year 2.
  • The unit could be converted to a residential dwelling subject to planning and freeholders consents.
  • We understand the floor area of the unit totals 411 sq ft.
  • Ground Rent - £30 per annum with the following increases: 2029: £45 pa, 2054: £60 pa, 2079: £75 pa, 2104+: £100 pa.
  • Tenure - 150 year lease from 1971 - 112 years remaining.
  • NIY of 5.85% after purchasers costs of 2.6%.