Stunning £500,000 luxury north London apartment with private terrace could be yours for just £10
Stunning £500,000 luxury north London apartment with private terrace could be yours for just £5 as property developer raffles it off
- Luxurious apartment on the market, which is worth £500,000, is located in Kentish Town, North West London
- The property boasts an open-plan lounge, fully-fitted kitchen and comes with an impressive private terrace
- Apartment comes with 17 ft reception area and sits just a stones throw away from Kentish Town Underground
By Bhvishya Patel For Mailonline
Published: 13:59 EDT, 30 July 2020 | Updated: 17:09 EDT, 30 July 2020
A luxurious apartment located in the most sought after neighbourhoods in London and worth £500,000 could be yours in a £5 house raffle.
The stunning 422 square-foot property, located in Kentish Town, North West London, boasts an open-plan lounge, fully-fitted kitchen and comes with an impressive private terrace.
Sitting just a stones throw away from Kentish Town Underground, the property, which has undergone a complete renovation, is the brainchild of the property developers Misuma Limited and is currently up for grabs with WinMyDreamHome.com.
A step inside the beautiful apartment reveals a 17-ft reception area on the ground floor and a large open plan lounge which offers a bright space to relax in.
A step inside the luxurious apartment, which is located in Kentish Town, North West London, reveals a large open-plan lounge and kitchen
The open-plan lounge inside the apartment leads to an impressive private terrace outside and offers a bright and open space to relax in
The lavish building comes with a fully-fitted kitchen complete with laminated flooring, a built in dishwasher, washing machine and fridge freezer
The property can offer between one and two bedrooms, with a large room at the rear of the house having the potential to be turned into either a bedroom or even a home office depending the owner’s needs.
The lavish building also comes with a pristine bathroom complete with a beautiful marble tile floor, a large curved glass shower, heated towel rail and all the necessities to make life as comfortable as can be.
The building also offers an open plan fully-fitted kitchen which comes complete with laminated flooring, a built in dishwasher, washing machine and fridge freezer to take care of all your needs.
A terrace outside comes complete with a seating area and will provide the lucky winner with views of the surrounding area.
Following a complete restoration, the London-based property includes all the latest insulation, fire resistance and sound proofing.
The apartment also comes with beautiful wooden sash windows at the front of the property and new double-glazed sash windows to the rear.
Finished to high spec, the property is also surrounded by an array of transport facilities, from local bus routes to the City and West End and rail services from Kentish Town West.
The property is also a short walk away from the vibrant Kentish Town high-street, Camden’s market areas and the famous parks of Hampstead Heath and Primrose Hill.
The stunning 422 square-foot property, which sits just a stones throw away from Kentish Town Underground, comes with a spacious living room which opens up to a private terrace outside
The apartment, which has recently undergone a complete renovation, comes with a spacious bedroom which provides views of the surrounding area
The property can offer between one and two bedrooms, with a room at the rear of the house having the potential to be turned into either a bedroom or a home office
Inside the building is a stunning bathroom complete with a beautiful marble tile floor, a large curved glass shower and a heated towel rail
The residence, which is surrounded by an array of local bus and train routes, has a spacious seating area on its private terrace outside
Marc Gerson, director of WinMyDreamHome.com, announced that the initiative will help support local independent hard-hit businesses that are struggling from the effects of Covid-19.
A percentage of the profits will be taken at the en of the competition in January 2021 and be gifted to select businesses still struggling after Christmas.
Marc Gerson CEO of WMDH & Misuma Ltd said: ‘I have worked in this area for many years and witnessed the amazing growth in the area of really special small independent businesses.
‘Unfortunately, these great companies that took a chance on opening in the area have suffered and I just want to give something back to the community that have supported us over Covid-19. For pushing through the hard times and making our little community as unique as it is.’
Those looking to buy a ticket can visit winmydreamhome.com and enter the ‘play now’ section of the website.
Single tickets are priced at £5 while those who buy a bundle of ten tickets will be charged £1 per ticket.
The competition will close on December 31, 2020, and the winner will be announced within 14 days.
What are the rules on raffling a home – and what happens if they don’t sell enough tickets?
What is a house raffle and how is it legal?
Raffling off a home is becoming more and more popular with dozens taking place every year in the UK.
For the seller, the idea is to sell enough raffle tickets to cover their asking price – plus cover the cost of running it.
Most set up a website to advertise their competition and charge between £2 and £5 a ticket in order to attract as many entrants as possible – but more expensive properties can be raffled at £25 a ticket.
Once they hit their target total, they then select a lucky winner at random – but the draw must be carried out by a regulated lotto firm not the owner.
Those who want to keep the money gained for themselves must either hold a free prize draw or add a competition element to the raffle.
Competitors should have to prove their skill, knowledge or judgment in order to win the top prize.
Many people get around this by asking an incredibly simple question such as ‘what style of property is this house: A – Victorian, B – Tudor or C – Georgian’ when people pay for their raffle ticket.
Others have run spot the ball games to decide the winner.
How often do house raffles fail?
More and more raffles are failing to hit ticket targets as people become suspicious of them.
In this case the organisers will fall back on their terms and conditions.
These usually allow them to keep 25 per cent of total sales to cover their time.
They can also deduct further reasonable running costs such as legal or PR spending.
The remaining money is then given away – but it is always smaller than the value of the home that was up for sale.
