For Sale - Crouch Hill, Crouch End, N8 - Auction guide price of £1,650,000

Being Sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £1,650.000

An outstanding opportunity to acquire a fully income-producing freehold mixed-use investment in the heart of the highly sought-after Crouch End/Stroud Green area.The property comprises a well-established, fully licensed bistro/restaurant occupying the ground floor, together with a spacious basement providing excellent storage and attractive outdoor seating.

The commercial premises are let on a 20-year lease from February 2012, with four-yearly rent reviews, currently generating £43,000 per annum.
The upper floors comprise two one-bedroom flats and two studio flats, all let to long-term private tenants, providing a reliable residential income.

The residential rents are currently below market value, presenting an excellent opportunity for future rental growth and enhanced returns.

Income Summary:

Commercial Income: £43,000 per annum.
Residential Income: £65,844 per annum
Total Income: £108,844 per annum.

A rare investment opportunity offering a strong, immediate income stream with significant scope for future rental growth.

Early enquiries are highly recommended.

EPC rating: D.

Ideally positioned within a thriving North London location, the property benefits from excellent transport links, strong tenant demand, and a vibrant mix of independent cafés, restaurants, and local amenities.A rare opportunity to acquire a substantial mixed-use investment offering immediate income and future asset management potential.

Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

The advertised price is commonly referred to as a 'Starting Bid' or 'Guide Price' and is accompanied by a 'Reserve Price'. The 'Reserve Price' is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the 'Guide Price' / 'Starting Bid'.
These prices are subject to change.

An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.