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Palace Gates Mews, London, N8 7PN
For Sale £1,950,000


Palace Gates Mews was originally constructed as 7 commercial live/work units in the 1990's with associated central parking. We are selling the freehold of the site and the adjoining development of Audora Court. Audora Court produces an annual ground rent of £100 per annum. Palace Gates Mews is as follows. Units 1 & 2 sold on a virtual freehold basis, originally 999 years at a ground rent of £100 per unit per year including 3 parking spaces. They contribute to insurance and maintenance. Unit 3 - sold off on a virtual freehold basis (999 years) £100 ground rent and contributions towards insurance and maintenance. Unit 4 - sold on a long lease to the vendor in an individual name. The unit has been converted into 3 flats. 4a ground floor, approx. 33 sq.m. currently let at £11,775 per annum. 4b first floor 33 sq.m approx. currently let at £12,075 per annum. 4c is a larger flat over 2nd and 3rd floors approx. 45 sq.m, currently let at £15,050 per annum. Unit 4 benefits from 2 parking spaces. Unit 5 - This unit is again developed to mirror unit 4 although the rental income is:- 5a - £10,800 pa. 5b - £11,850 pa. 5c - £15,512.87 pa Unit 6 - Flat A and B are sold off on long leases of 125 years. They pay a service charge and have the parking within the undercroft. 6c is a flat of 28 sq.m. approx. producing £8,891.89 pa. Thus the investment income equates to approximately £86,000 per annum

Palace Gates Mews, London, N8 7PN

Set on The Campsbourne just off Hornsey High Street conveniently located for shops and Hornsey Train Station, giving easy access to Central London. Both Priory and Alexandra Parks are a short walk away. Hornsey High Street has a good mix of shops and restaurants. Crouch End is close by.

For Sale £1,950,000


Business Rates
Council Tax Bands 4a - B, 4b - B, 4c - C, 5a - B, 5b - B, 5c - C, 6a - C, 6b - D, 6c - B

Legal Cost
Each side to bear their own legal costs.

4a - Energy Rating D, 4b - Energy Rating C, 4c - Energy Rating D, 5a - Energy Rating E, 5b - Energy Rating D, 5c - Energy Rating E 6a - Energy Rating C, 6b - Energy Rating C, 6c, Energy Rating E

Under the Finance Acts 1989 and 1997 VAT may be levied on the purchase price. We recommend that the prospective buyers establish the VAT implications before entering into any agreement.

Via the owners sole agents PSS Commercial 020 8800 4321

Palace Gates Mews, The Campsbourne, Crouch End, London