4 bedroom commercial property for sale

FOR SALE BY AUCTION 15/04/15 - Commercial mixed use investment Freehold opportunity- Station Road, Edgware HA8

Sold STC £780,000

Property Description

Key features

  • COMMERCIAL MIXED USE INVESTMENT OPPORTUNITY
  • GROUND FLOOR COMMERCIAL UNIT LET ON LONG LEASE
  • SPLIT LEVEL RESIDENTIAL UPPER LET ON AST
  • DEVELOPMENT POTENTIAL TO CONVERT UPPERS INTO 2 SELF CONTAINED FLATS STPP
  • 2 O.S.P. PARKING SPACES AT REAR
  • FREEHOLD
  • CHAIN FREE
  • FANTASTIC LOCATION OPPOSITE EDGWARE STATION
  • Guide Price: £750,000+
  • Goto Auction House London website to register

Full description

A Well Located Residential & Commercial Investment Producing £47,700 per annum. Potential to Redevelop the Upper Parts to Provide Two Self-Contained Flats (subject to obtaining all relevant consents)

Viewings - Via Space Residential on the following times/dates ONLY:
Tuesday 31st March 13:00 - 13:30Thursday 2nd April 17:00 - 17:30Tuesday 7th April 13:00 - 13:30Thursday 9th April 17:00 - 17:30Tuesday 14th April 13:00 - 13:30PLEASE CALL TO BOOK YOUR SLOT AND REGISTER ON 0208 906 2222

TenureFreeholdLocationThe property is situated on an established parade in the heart of Edgware town centre. Numerous multiples occupy space within the immediate area including Subway & Argos. The property occupies a prominent position opposite the Broadwalk Shopping Centre and Edgware tube station. which along with the Edgware Bus Depot provide ample transport links.
Description
The property comprises a ground floor shop with a four bedroom first, second and attic floor maisonette above situated within a mid terrace building over ground and three upper floors. The maisonette benefits from its own private rear entrance.ExteriorThe shop benefits from a single rear car parking space. The maisonette benefits from a roof terrace and one car parking space at the rear. Property Floor Accommodation Tenancy Details Current Annual Rent Shop Ground Shop Area, Photography Studio, Kitchen/Storage, WC (GIA approx. 600 sq ft) Let to Sappy Properties (Edgware) LLP t/a Snappy Snaps at a rent of £7,875 per quarter on an IRI lease - assigned on 31st Jan 2011. The original lease dated 16th Feb 2005 for a term of 15 years. 5 yearly reviews £31,500 Maisonette First Second Attic Reception Room, Kitchen Three Bedrooms, Shower Room with WC Bedroom, Shower Room with WC Let on a 12 month AST from November 2014 at a rent of £1,350 pcm £16,200 Current Rent Reserved £47,700 per annum

Auction 15th April 2015 goto http://www.auctionhouselondon.co.uk/auction-lot-details_EIG.php?id=33653&search=current
to register


SUMMARY 
Ground floor let on a long 15 Lease expiring 2020 ? current rent passing £31,500p.a. Ground floor approx. 600sqft with front shop, photography studio behind, kitchen/storage and w.c. + 1 rear parking space (off street) Upper ? AST let at £1350pcm or £16,200p.a. (same tenants past 5 years) with rear entrance up staircase over shop at rear with outside space/roof terrace and 1 OSP space at rear. Split level 4 bedroom flat with 2 shower rooms/w.c. 1st floor comprises 2 doubles, 1 single bedroom, lounge and large eat in kitchen and shower room. Stairs up to loft room which has a bedroom and shower room. (Rent is could potentially be pushed further - maybe nearer £1500pcm) **** There is also a possible opportunity for rental increase on the current flat rental, but would require an investor to turn uppers into 2 self-contained flats subject to obtaining the necessary planning consents, which could push rent to maybe £1400pcm+ for a decent 3 bed and approx....

GROUND FLOOR COMMERCIAL UNIT 
Currently let out on a long lease expiring 2020 producing £31,500. Trading as Snappy Snaps. Ground floor with front shop approx 600sqft with rear photography studio plus wc. and kitchen area and direct access to rear with one parking space.

RESIDENTIAL UPPER 
A 4 bedroom residential flat split over 3 floors currently comprising a lounge, kitchen, stairs to second floor with 3 bedrooms and shower room with stairs up to top floor in loft space where there is a further fourth bedroom and shower room. Let to the same tenants past 5 years currently producing ££1350pcm (£16,200p.a.) Access is from the rear where there is also an unofficial roof terrace and one reserved parking space at the rear.

DEVELOPMENT POTENTIAL 
Potential to convert residential to 2 self contained flats subject to the usual consents as required. Potential to gain further rent increases on both commercial and residential units at next rent review .

More information from this agent

Nearest stations

  • Edgware (0.1 mi)
  • Canons Park (0.9 mi)
  • Burnt Oak (0.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Space Residential, Mill Hill & Edgware

155 Hale Lane, HA8 9QW

020 3858 2452 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Edgware (0.1 mi)
  • Canons Park (0.9 mi)
  • Burnt Oak (0.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Space Residential, Mill Hill & Edgware

155 Hale Lane, HA8 9QW

020 3858 2452 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 5152791. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Space Residential, Mill Hill & Edgware. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Space Residential, Mill Hill & Edgware on 0208 906 2222.


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