Lonsdale Place Islington, London £575,000

• Great location
• Long Lease of 958 years
• Share of Freehold
• Generous private terrace
• Garage and off-street parking
• 1st floor apartment
• Peppercorn ground rent
• Gated development
• Value service charge last year of £504
• Wooden flooring
• Gas central heating
• Applianced kitchen
• Open plan living space
• White bathroom suite
• Good storage

First floor one bed apartment with private terrace and garage located in the heart of the popular conservation area of Barnsbury.

Situated in a gated development, the flat includes a large open plan lounge and fitted kitchen with a big window providing a nice view across the rear gardens of the beautiful Victorian houses. The spacious double bedroom gives access to a generous private terrace. The property has a three-piece suite bathroom.

This property comes with a garage and off-street parking, being ideally located in the centre of several stations such as the Victoria line (Highbury and Islington station) and the Northern line (Angel Station).

Long lease of 999 years from 29th September 1981, 958 years remaining.

The freehold is held by Lonsdale Place Management Company (LPM) which is owned by the flat owners so the buyer would have one share in it. Although the board (volunteer flat owners) of LPM approve the budget and any major expenditure, the day-to-day management and repairs of the block are carried out by the managing agents, Warman's. There does not appear to be any ground rent, but the service charge is roughly based on the floor area of the flat and the amount currently due is £503.19 per annum. The service charge is agreed each year between the board and the management agents. There was no service charge increase last year as there is enough in the sinking fund of about £120K to cover large jobs such as redecorating the outside, cutting back the trees or even replacing the entry phone system if need arose.