High Road, East Finchley, N2

An exciting opportunity to acquire a rarely available Unbroken Freehold on a busy local high street with a huge value add upside.

Commercial Unit:

The commercial unit occupies the basement and ground floor and is currently underlet, generating £17,500 per annum on a monthly license. The current tenants have been in place for over 15 years. The sellers are engaging with them regarding long-term plans to sell, as they are keen to formalize the agreement. There is potential for the tenants to operate with a smaller footprint, so the post-development space could also be a viable option.

Residential Units:

The first floor is occupied by a large one-bedroom flat which is currently vacant and in need of modernisation, extending to approximately 720 sqft (NIA). The second floor comprises a large one-bedroom flat, approximately 652 sqft (NIA), currently let to an assured tenant producing £15,000 per annum. The next rent review is due in November 2025. The tenant inherited possession from their mother, who was also a regulated tenant.

Planning Options

Option 1:

Planning was submitted on 13th May 2025 (Ref: 25/2002/FUL) for the demolition of the rear storage building, rear steps, and landing. This includes construction of a side and rear extension to the existing rear outrigger, excavation of the basement below, and a mansard roof extension with a front terrace to create an additional residential unit on the third floor. Associated cycle storage and amenity space are included.

This option would provide 3 additional units through excavation, rear extension, and roof extension, totaling approximately 1,480 sqft (NIA). It carries a smaller CIL payment of approximately £48k.

Option 2:

Planning was approved subject to signing the S106 agreement on 4th December 2023 (Ref: 23/1660/FUL) for conversion into 5 self-contained flats, including lower ground and ground floor rear extensions, following demolition of the existing rear storage building and rear access staircase, as well as first and second floor rear extensions. The proposal also includes alterations and an extension to the roof to create an additional storey on the third floor, while retaining the existing ground-floor shop and basement storage. This option would provide 4 additional units (including basement excavation, ground floor rear extension, first floor split and rear extension, and roof space extension), resulting in a total of 6 self-contained apartments with approximately 3,012 sqft (NIA). Commercial use of approximately 844 sqft (GIA) on the ground and basement floors would be retained. CIL is expected to be around £52k, with confirmation pending.

Location:

The building is conveniently located within the bustling and vibrant East Finchley High Road, five minutes

walk to the East Finchley Underground Station (Northern Line). Located in Zone 3 close to the Bishops Avenue, offering quick and easy access to the West End. Numerous local bus services together with excellent links by road including convenient access to the A406

North Circular and M1, both less than two miles away.

On the High Road there is a multitude of local and national retailers including Sainsbury’s Local, Cafe

Nero, Natwest Bank, Budgens and Iceland alongside a mixture of independant boutiques, cafes and

restaurants.

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