This substantial 10-bedroom property presents a unique opportunity for investors and developers alike, situated in a desirable residential area of North London, known for its vibrant community and convenient amenities. Located near Quinta Drive in Barnet, the property benefits from easy access to local shops, highly regarded schools, and expansive green spaces, making it appealing not only for tenants but also as an investment site.
As a fully licensed House in Multiple Occupation (HMO), this property features ten generously sized bedrooms, each accompanied by its own modern bathroom. The layout includes a well-equipped kitchen and a large communal lounge area, thoughtfully designed to cater to shared living arrangements. The property has been consistently maintained and optimized for rental income while ensuring comfort and quality for residents.
Currently generating an annual rental income of £96,000 with all rooms occupied under existing tenancies, this asset is already yielding returns from day one. However, it holds further potential for increased profitability through strategic renovations or expansions.
The exterior of the property adds to its appeal, featuring a spacious driveway that can accommodate up to six vehicles—a significant advantage in this sought-after location. Additionally, the large rear garden offers considerable outdoor space and side access that could be leveraged for future development projects.
With development possibilities subject to planning permission (STPP), there are exciting opportunities available: converting the loft could add up to four en-suite bedrooms, significantly enhancing rental yields; or utilizing the expansive rear garden space to construct a two-storey detached house which could provide additional income or be resold.
With accommodation spread over two floors—comprising four bedrooms and five bathrooms on the ground floor along with six more bedrooms and five bathrooms upstairs—this property's configuration allows for various uses while maintaining privacy among occupants. Overall, this is a versatile investment with promising potential for renovation and growth within a prime location.
