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Lowther Road, Stanmore, Middlesex, HA7

Offers in Excess of
£3,000,000

£441.18 per sq ft

Business rates & charges may apply

ESTATE OFFICE INVESTMENTS LIMITED, London
SIZE AVAILABLE

6,800 sq ft

632 sq m

SECTOR

Mixed use property for sale

Key features

  • 150 meters from Queensbury Station (Jubilee Line)
  • Freehold
  • Arranged over ground and three upper floors
  • 16,592 sq ft
  • 16 residential units and 12 office suites
  • ERV under the LHA rates in the region of £297,000 pa
  • Multi-let to 10 diverse retail and offices tenants
  • Current passing rent £233,907 pa
  • Low Capital Value of £132 per sq ft
  • Net Initial Yield 10%

Description

*MIXED-USE INVESTMENT WITH FURTHER DEVELOPMENT POTENTIAL*

Ideally located 150 meters from Queensbury Underground Station (Jubilee Line) and less than 3 minute walk to nearby retail amenities.

Arranged over ground and three upper floors the recently refurbished building is arranged as 28 units totalling 7,875 sqft GIA (6,800 sqft NIA)*.

Currently configured as 8 residential self-contained studios and 20 self-contained office suites.

The majority of the building is occupied producing £187,620 pa with 4 vacant commercial units.

Subject to the use of the building being 16 residential units and 12 office suites, the ERV under the LHA rates would be in the region of £297,000 pa.

In addition, a pre-app was undertaken in January 2024 for an upward extension to provide up to 32 additional units on the roof and conversion of the entire building to student accommodation.

Freehold.

Offers in excess of £3,000,000 (Three Million Pounds) subject to contract.

FURTHER DEVELOPMENT POTENTIAL

The property has significant redevelopment potential demonstrated by the positive reaction to the preapplication submitted in January 2024. This recent pre-application has been lodged
for roof top extensions across the whole of the site to create a 5-storey (ground plus 4 upper floors) building comprising 42 high-quality student accommodation units. 28 units will be by way of conversion and additional 14 units will be new build. Following the pre-application meeting, a
written request was sent to the planning officer suggesting a further upward extension of two additional floors (bringing the total to 7 floors - ground plus 6 upper floors) resulting in a total of 60 units. The officer did respond that such an application is likely to be considered. Our clients have confirmed that the planning officer was positive on the potential to redevelop to student accommodation subject to obtaining the necessary consents.

Brochures

Lowther Road, Stanmore, Middlesex, HA7

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Queensbury Station0.0 miles
  • Kingsbury Station0.7 miles
  • Canons Park Station1.0 miles

About ESTATE OFFICE INVESTMENTS LIMITED, London

Ground Floor 1 Finchley Road, London, NW8 9TT

ESTATE OFFICE INVESTMENTS LIMITED, London

A London based boutique property consultancy with a global track record. We are investment and development land specialists, primarily selling land and buildings with and without planning permission, with a focus on residential blocks and commercial investment opportunities in retail, leisure and office space. We also act on behalf of clients on residential and commercial acquisitions.

Established in 1983 with exceptional combined experience, our dynamic team of fourteen work tirelessly

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