Buying Older North London Conversions: A Real Example of What You May Be Taking On

Tollington Surveyors
Nov 17
5 min read

Buying Older North London Conversions: A Real Example of What You May Be Taking On

We wanted to share a real example of the kind of property we are seeing more often. First-time buyers are understandably focused on price, location and what appears to be a simple renovation.

The challenge is that older London conversions are rarely straightforward. The real question is not whether the flat is affordable but whether the wider building, the legal structure, and the collective responsibilities make it a sensible purchase at all.

This particular home was a ground floor one bedroom flat with a share of freehold, part of a Victorian conversion split into three units. At first glance it looked tired but manageable. The décor was dated, some finishes were poor, and the price seemed slightly under what we would expect on a square foot basis. To many buyers this feels like a bargain. In reality, the issues went far deeper than superficial decoration.

What We Found During Inspection

Once inside, it became clear that the problems were not cosmetic. Dampness was widespread across the front, rear and side walls. The chimney breasts showed clear signs of water penetration, made worse by open chimney pots and weathered flaunching. The communal areas were in a noticeably neglected state, which in itself is often an indicator of poor management and limited contribution from co-freeholders.

Externally there was significant vegetation growth, defective plinths, and heavy weathering. To the rear, the neighbouring garden had been developed and fencing had been drilled directly into the brickwork at multiple points. Poorly sealed fixings and penetrations create direct moisture pathways into solid walls. These are difficult to manage and will continue to cause dampness unless corrected properly.

Internally, moisture was present beneath kitchen units, below windows, around the garden door, and through parts of the bedroom. Timber skirtings in several rooms showed signs of prolonged exposure. The property relied on dated finishes, timber panelling, wallpaper and tiled surfaces that concealed the true condition behind. This is typical of older conversions where decades of work by different owners leave a patchwork of materials, some breathable and some not.

The Cellar And Its Impact

The most concerning area was the cellar. The flat had a small private section, but the larger adjoining cellar spanned the full footprint of the building. It was unclear who legally owned this wider space or who was responsible for repairs. In a share of freehold arrangement this can be complicated, as collective responsibility often applies even if you do not physically use the area.

The main cellar was in a poor state, with uneven floors, damp earth, debris and old insulation. Ventilation was restricted and conditions were ideal for dampness and decay. This environment feeds moisture into the rooms above through capillary action, gaps, and cold bridging. The dry-lined walls in the flat masked what was happening behind them. Based on what we saw, this cellar was a major contributing factor to the internal damp issues.

Indicative Repair Costs And What Happened Next

A specialist damp and timber inspection was carried out after our visit. The quotations the buyers received were already in excess of fifty thousand pounds. In our opinion the true cost would likely be higher once finishes were stripped back, subfloors exposed, and structural timbers inspected. This did not include full decorative works, new fittings, or improvements to the communal areas. All three flats in the building would need to contribute to substantial repairs, and it was unclear whether the other owners were willing or financially able to do so.

The property was offered at a slightly lower price than comparable flats, but the gap did not come close to covering the scale of work required.

Key Defects Identified

Dampness to front, rear and side walls
Failed or bridged damp proofing
Defective external plinths and penetrating moisture
Significant moisture to chimney breasts from open pots and aged masonry
Rear fencing and fixings drilled directly into brickwork causing damp paths
Poor condition cellar contributing moisture into the flat
Springy and uneven timber floors with suspected concealed timber decay
Dated windows and external doors allowing water penetration
High risk of asbestos within textured finishes and communal areas
Neglected common parts, including lack of fire safety measures

Issues Requiring Further Specialist Investigation

Full damp and timber survey
Cellar inspection and assessment for tanking or waterproofing
Timber floor opening-up works
Chimney and flaunching inspection
Electrical safety testing
Gas and boiler testing
Fire safety assessment for the communal hallway

Legal Points That Needed Clarifying

Ownership and responsibility for the full cellar area
Responsibilities under the share of freehold, including major works
Rights and obligations relating to external walls and rear boundary fixings
Position of the other co-freeholders and their willingness to contribute
Fire safety compliance and obligations for communal areas
Any previous disputes or notices relating to the building
Planning consents for past works including roof alterations and rear garden structures

These are practical issues but also social ones. With a share of freehold, you must work closely with the other owners. If major works are required, disagreements, delays and financial strain can follow. Buyers often underestimate this side of property ownership.

Is It Worth It?

For some buyers, properties like this are an opportunity. For others, they can become long and difficult projects. If you have cash reserves, a reliable builder, experience managing works and the time to stay involved, it may still be viable. But if you are stretching financially, do not have contractors in place and want something straightforward, the question becomes whether it is worth pursuing at all.

Buying a share of freehold can be positive, but it also comes with responsibility. The external fabric of the building, the roof, the walls, the drainage and the communal areas are not the responsibility of one owner alone; they belong to everyone. If the building requires major work, all co-owners must agree, all must contribute, and all must be willing to take action. In reality, this can be challenging. Some owners may not have the funds. Others may disagree with the scope of work or the timing. As a result, essential repairs can be delayed for years, and minor defects can grow into much larger problems.

A neglected communal area is often the clearest sign of this. When the hallway is worn, fire safety is outdated and shared spaces have not been cared for, it usually reflects the wider approach to managing the building. In small conversions, these issues fall directly onto the owners, and cooperation is essential.

Sometimes paying an extra twenty to forty thousand for a turnkey flat is the simpler, more practical option. Instead of months of building work, uncertain costs, strained relationships with neighbours and a long list of collective decisions, the additional amount becomes part of your mortgage repayment rather than an open-ended construction project.

For this buyer, the risks and the scale of the works outweighed any benefit of the lower asking price. Our role is to guide clients through these decisions, protect them from hidden liabilities and ensure they move forward with clarity rather than hope. A clean, well-maintained property with proper management is often the more affordable and more stable choice in the long run.

If you are buying in North London and want clear, grounded advice, we would be pleased to help. At Tollington Surveyors, we are a genuinely local firm — based here, working here, and familiar with the buildings, roads, and communities that make this part of London so distinctive. Our local knowledge means our guidance is always relevant, practical, and tailored to the homes we see every day.

Contact us today to arrange a RICS HomeBuyer or Building Survey — our process is straightforward, our advice is independent, and you will always deal directly with a qualified local surveyor.