Commercial Property for sale - London Road

OIRO

£3,600,000

Property information

Type:

Sale

Tenure:

Freehold

Categories:

Commercial Property

Features:

Investment Opportunity, 14 New Build Flats with an Avera, Ground Rents of 24 Tenanted Flat, 6 of the 24 Flats Require Lease , Currently Applying for Planning

Listed on:

29-04-2015

Commercial

Bush Hill Park

S.O.A.


Description

Investment Opportunity14 New Build Flats with an Average Retail Value of £250,000Ground Rents of 24 Tenanted Flats & Ground Floor Commerical Units6 of the 24 Flats Require Lease ExtensionsCurrently Applying for Planning Permission for a Further 4 FlatsThis Investment Package consists of: 8 New Build Flats2 Bed 2 Bath Apartments located in the Rear Block - All of which are currently vacant. 6 New Flats on the Roof of the Existing Block 2 Bed 2 Bath Apartments with Communal Gardens - All of which are currently vacant. The current Sale Value the 14 Flats mentioned above is in between £250,000-£275,000.The current Rental Value of the 14 Flats mentioned above is in the region of £1250-£1350 per month. The Freehold further comprises of 24 tenanted flats plus the commercial units on ground floor. (Majestic Wine, Tessa Stevens Beauty Clinic, Dina's His & Hers, Peter Tyler Photographs, Fish & Chips At London Road - All have Virtual Freehold - 999 Year Leases).Ground rents of the 24 existing flats are approximately £1000 per annum. 6 of the (24) Existing Flats require a Lease Extension. Said leases have approximately 60 years left and we have been advised that the extension of each lease would be in the vicinity of £20,000. An application for planning permission for 4 extra new flats on top of the new block at the rear has been made and any offers can be subject to this.




Disclaimer

Property reference: CP369F202_5682

The information exhibited about this property relates to a property listing advertisement. Commercial People Ltd makes no assurances as to the accurateness or completeness of the said advertisement or any connected or associated information. Commercial People Ltd has no control over the content of the advertisement. This property advertisement does not constitute property particulars. All information is provided and maintained by Colemans. In the event of any discrepancies, we ask that you please contact the selling agent or developer directly.

This property is marketed by:

Colemans
Lichfield House, 2 Lichfield Grove, Finchley

View more properties from this agent

Reference: CP369F202_5682

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