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