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Austin Allegro

Northwood Hall, Highgate - Massive Drop: Why?

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I've been watching this flat in Northwood Hall, Highgate, N6, which is a nice art deco block in a good location.

Judging by the decor it's a death/dementia sale, but the drops really are staggering which makes me suspect there could be some problem with the lease.

Any ideas or inside info on this block?

History

date event

24 August 2009  Price changed: from '£199,950' to '£149,950'

13 March 2009  Price changed: from '£250,000' to '£199,950'

10 October 2008  Price changed: from '£320,000' to '£250,000'

15 March 2008  Title changed: from 'Highgate' to 'Northwood Hall, Highgate'

12 March 2008  Initial entry found.

Full description:

A spacious two bedroom, fourth floor flat in an imposing mansion block with porter service and a great location. The property comprises generous reception room with front aspect double doors to private balcony, two well proportioned bedrooms, streamlined kitchen and bathroom. Northwood Hall boasts an excellent location close to the wonderful amenities of Highgate, while fashionable Crouch End is also near by. Highgate (Northern Line) and Crouch Hill (National Rail) train stations provide transport links to central London and beyond.

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I'd like to know this too! It's a big block and there are always a few for sale but normally around the 250k mark. My thoughts were probate too but I'm shocked it't didn't sell at 200k (even if it had a short lease). Could be foxtons playing games off course...

It must piss the other sellers off though :lol:

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I do know that at the moment there's a £5 million renovation and maintainence contract on the block, for new heating and hot-water installations, of which every lessor will have to pay a share unless the Resident's Association obtains the Right To Manage. That would depreciate all current valuations by about £25,000 - £30,000, although doesn't fully explain this flat's big price drops.

There are also fairly strict regulations about how flat interiors can be maintained and decorated - the managing agents can oversee and demand certain materials are used; if this flat needs full modernisation thoroughout then this might be putting prospective buyers off. Otherwise I'd guess that it's lease trouble.

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