5 & 7 Church Lane, East Finchley, Barnet, London

Five units under one freehold title, fully let, with the flats let below market. The passing rent is £84,480 a year. At our estimated rental values it rises to between £103,200 and £104,400, without any work to the building.

5 and 7 Church Lane are two adjoining buildings in a Victorian terrace in East Finchley, N2. The ground floor is commercial. Number 5 is let to a barber and number 7 to a gym, both on 10-year leases granted in 2023 and 2024.

Above and behind are three self-contained flats: a studio with its own courtyard, a two-bedroom flat on the first floor, and a three-bedroom flat with its own entrance. All three are let.

The property is offered at £1,200,000. That reflects a gross initial yield of 7.04% and £240,000 per unit, rising to 8.6% to 8.7% at ERV. As a mixed-use purchase, it’s assessed at non-residential SDLT rates.

East Finchley station is on the Northern line in Zone 3, around 21 minutes from Charing Cross.

2% buyer's fee applies.