171-175 Church Lane,
Kingsbury, London NW9 8JS
Offers in excess of £1,350,000
Mixed-use freehold investment and development opportunity with planning permission
Planning Permission for 8 x 2 bedroom apartments
Public House with 5 room maisonette producing £36,000 per annum
Two further 5 room maisonettes, one let at £14,400 and one vacant
Total current rent reserve £50,400 per annum
The existing property comprises four commercial units on the ground floor with three maisonettes over the first and second floors. The three Co-Op retail units are sold off on a 125 years lease from 2009. The Wishing Well public house is let at £36,000 per annum and includes one of the three maisonettes within their demise. Of the two remaining maisonette’s one is is let on an AST producing £14,400 and one is currently vacant. The entire freehold sits on a site of approximately 0.371 acres. The property now benefits from planning permission for 8 x 2 bedroom apartments on the first and second floors above the existing commercial units.
The property is located in Kingsbury in Northwest London within the London Borough of Brent. Kingsbury is an up and coming area of London with substantial redevelopment taking place. The property is situated on Church Lane, which is a part residential, part commercial area with various shops, pubs and restaurants.
The nearest Underground Stations are Kingsbury (Jubilee Line) and Wembley Park (Jubilee & Metropolitan Line) with trains into London taking just 20 minutes. The M1 motorway is a 5-minute drive from Church Lane.
Granted on the 2nd June 2011 for the erection of a first-floor and second-floor extension above existing shops on Church Lane to create 2 x 2-bedroom flats and erection of a part ground-, first- and second-floor extension to create a three-storey building fronting Merley Court to provide 6 x 2-bedroom self-contained flats with provision for 8 car parking space and cycle parking.
The property is subject to VAT and as such will be applicable regarding this sale.
Offers are invited in excess of £1,350,000, subject to the existing tenancy and lease agreements.
For copies of the existing and proposed plans, decision notice and copies of the current leases agreements, please contact a member of our team.
Please note the information provided by Highfield Investments London Limited, trading as Highfield Investments has been given in good faith, however all parties must undertake their own due diligence to satisfy themselves in regards to accuracy.