Harringay, Haringey - So Good they Spelt it Twice!
11 Burgoyne Road up from auction after repossesion
See previous discussions on 11 Burgoyne Rd here:
Noticed this in the Evening Standard today:
To be auctioned on 15 September by Allsop
By order of the receivers
11 Burgoyne Road
Freehold semi detached building. Providing nine residential units. 3 units subject to ASTs. Six units subject to occupancies on terms unknown. Producing £16,620pa from 3 units.
The property comprises a semi-detached building arranged over ground and two upper floors. Internally the property is arranged to provide eight self-contained residential units with one further unit within a self-contained extension to the rear of the property.
The property is subject to an extant enforcement notice dated April 2008 requiring that the property ceases being used as 11 self-contained living units.
http://www.auction.co.uk/residential/lotDetails.asp?A=713&MP=24
So it can no longer be 11 units but I'm not sure whether that means nine is considered ok?
Replies to This Discussion
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Permalink Reply by Michael Anderson on
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And the suggested income of £16.5k PA tells you exactly why owners of illegal HMOs have no scruples.
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Permalink Reply by maggie on
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The 16.5k. pa seems to be from the 3 ASTs (assured shorthold tenancies?) only.
On top of that there appears to be additional income from "six units subject to occupancies on terms unknown" (!).
(It appears that this five bedroom house was turned into 11 "residential units" comprising '10 studio rooms with integral kitchenette and shower room' plus 1 'self contained accommodation'. (Subsequently 3 of the studio rooms were combined into one 'self contained accommodation'.)
The auctioneers blurb says that accommodation is on ground floor and upper two floors however from the photo this is a two story house with no obvious windows in the roof space at the front of the house !?
The extant enforcement notice dates from April 2008, so the landlord has had over three years of raking it in since the enforcement notice.
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Permalink Reply by Hugh on
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The rule of thumb return on investment for a rental property is 6%, I think.
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Permalink Reply by ElleCarumba on
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"The property is subject to an extant enforcement notice dated April 2008 requiring that the property ceases being used as 11 self-contained living units"
I've not been following this one for long - only moved in to Burgoyne in 2009.
What was it before it was 11 units? A single house? Two flats?
Surely it should be a requirement for the new owner to turn in back into whatever it was before the illegal conversion?
Nine units in such a small property is far too many - does this meant they get permission by the back door for nine? I assume that converting it into nine units was pretty much just as bad as converting into 11 so it seems wrong that this is allowed.
In its current usage as nine units, then surely the likely purchaser at auction is going to be another Rachamnite landlord.
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Just by the by, 11 Burgoyne has a virtual blue plaque.
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Permalink Reply by Takaokagiejin on
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Pity he's not still here, he'd have sorted out the pile them high landlord in a jiffy
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