Block of flats for sale

88-102 Coles Green Road, London NW2

Interested parties should contact Knight Frank Auctions for further information.

Description
The property forms a purpose built residential block comprising 8 units all of which are subject to long leases. 6 leases with 87 years unexpired and 2 leases with 92 years and 94 years unexpired respectively. Total current rent reserved £430 pa.

Investors in this opportunity would acquire a relatively passive income stream, backed by secure leasehold commitments, with minimal day-to-day management obligations and potential to receive lease extension premiums.

Note - The lessees have not elected to take up their rights of pre-emption under the terms of the Landlord and Tenant Act 1987.

Location
The property is located in Cricklewood / Dollis Hill within the London Borough of Brent (NW2), a well-established residential area with strong links to Central London. Dollis Hill Underground (Jubilee Line) and Cricklewood Thameslink station are nearby, while the A406 North Circular provides easy road access to the M1 and wider network.

The area benefits from excellent amenities, Brent Cross Shopping Centre is within 1.5 miles, with further shops, cafs and restaurants along Cricklewood Broadway and Willesden High Road. Gladstone Park and other green spaces add to the appeal.
NW2 attracts a mix of families and young professionals, supported by good schools, local employment at Brent Cross and Staples Corner, and ongoing regeneration including the new Brent Cross West station.

The buyers fee is including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property.

Auction Details
The sale of this property will take place on the stated date by way of and is being sold as Unconditional.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to the Common Auction Conditions and Extra General Conditions.

Auctioneer Fees and Deposit
The following deposits and non-refundable auctioneer fees apply:

• 10% deposit, subject to a minimum of £5,000. The deposit contributes to the purchase price.
• Buyer’s Fee- the value of this fee will be listed against the property details, inclusive of VAT.

The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees contained within the Special Conditions of Sale, which can be viewed within the Legal Pack. You are strongly advised to read the Legal Pack carefully before bidding.

Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the sdl Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.