Are you an Estate Agent? Register here
Are you an Estate Agent? Register here
3rd Floor, 2 Bristol Avenue, N20 0EJ
£300,000
The property comprises the former Quinta Youth Club, now derelict and vacant.
On 15 June 2023, the London Borough of Barnet granted planning approval for a change of use from Use Class F2 (Local Community) to Use Class F1 (Learning and NonResidential Institutions), offering scope for future educational, training, or similar institutional uses (subject to any further consents required). Interested parties should make their own enquiries with the local planning authority.
Site Area
The property occupies a prominent position on Mays Lane, immediately adjoining Quinta Open Space in the Underhill Ward of the London Borough of Barnet and itimmediately adjoins Quinta Village Green, which is a registered Village Green. The Village Green does not form part of the disposal.
Key location benefits include:
Asset of Community Value (ACV)
The property is designated as an Asset of Community Value (ACV) under the Localism Act 2011.
As such, any disposal must follow the statutory ACV sale process, granting eligible community groups the right to bid ahead of an open market sale.
Under the Act, a disposal of an ACV triggers a moratorium period during which eligible community interest groups may express an intention to bid for the property. The process is as follows:
Expressions of interest must be submitted in writing via email to Barnet Council at community.rights@barnet.gov.uk within the specified period.
Further information about the site or the ACV process can be found on Barnet Councils website at https://www.barnet.gov.uk/community/support-voluntary-community-and-faith-organisations/community-buildings-venues-and-1#title-4
Map location is not available for this property.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
3rd Floor, 2 Bristol Avenue, N20 0EJ
The Property has been saved to your favorites
/ 5
It's quick and easy
