4 bed block of flats for sale

New North Road, London N1

Provisional Structure (details to be confirmed & negotiated)
Lease Option Price (Deposit) - £250,000
Completion - 36 Months
Completion Price - £1,050,000

This property on New North Road, London, offers a low-cost investment opportunity through a lease option with a delayed completion agreement, perfect for buyers seeking flexibility and development potential. Under this arrangement, the buyer will pay an initial deposit, cover the outstanding mortgage payments, and manage the property's upkeep, with the option to purchase at a pre-agreed price within 12 to 36 months. Leveraging the existing financing in place allows buyers to unlock significant potential without the immediate need for full ownership.

Currently configured as four studio flats with four reception rooms, four bedrooms, and four bathrooms, the property offers a versatile layout primed for full refurbishment. There is substantial development potential, including the opportunity to apply for planning permission for a double rear extension (as precedent on the road has been set) or to create three additional one-bedroom flats, significantly increasing its value and future rental income.

This arrangement provides a strategic path into the London property market, enabling buyers to enhance and develop the property at their own pace while benefiting from the flexibility of a delayed purchase. With its prime location and scope for expansion, this property represents an exceptional chance to capitalise on London’s thriving real estate market.