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Green Lanes, Newington Green, N16 3 bed block of apartments for sale
Green Lanes, Newington Green N16
£1,100,000
Green Lanes, Newington Green N16
£1,100,000
Our Summary
- *Precedence from neighbouring properties to build up and also build back, subject to planning permission*
- *Fantastic opportunity for an end user looking for some income or a developer to add value*
- 21%, great potential to increase these yields with refurbishments or development*
- Potential to extend
Description
This freehold building in Newington Green offers a unique opportunity for an end-user or developer to purchase a commercial unit, a 2-bedroom apartment, and a 1-bedroom apartment, all with excellent planning potential. The ground floor restaurant shop has ample seating, a kitchen, and toilet area, while the first floor 2-bedroom apartment features an open-plan kitchen living room and two double bedrooms. The top floor has a cozy 1-bedroom apartment with an open-plan kitchen and lounge. The property is conveniently located near local amenities, transportation links, and vibrant dining and bar areas, with potential for development or refurbishment to increase yields. The current total yield is 5.21%, with the commercial unit producing £16,500 pa, the 1st floor flat producing £22,800 pa, and the 2nd floor flat producing £18,000 pa.