020 8904 5040

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Freehold Investment

Gross rental income £48,000

Gross initial yield 6%

Busy high street location

Arranged over 3 floors with office accommodation on the top 2 floors

Potential for development subject to planning and leases in place

VAT free investment

Freehold Investment opportunity located on Harrow high street, near the town hall. The building consists of a ground floor commercial unit with two floors above arranged as a solicitors' office. There is significant space to the rear of the shop for storage or development subject to planning.

Location:

The property is part of the major urban conurbation of Harrow. Harrow is a densely populated area situated within the London Borough of Harrow. It is located some 11 miles North West of Central London and benefits from good road communications via many major roads including the A40, A312, A4090, and A404. Occupiers nearby include McDonalds, Betfred, William Hill, Sainsbury's Local, Ladbrokes, Santander, Subway, Asda and Boots.

Tenure: Freehold

Terms: The property comes with the benefit of a tenant downstairs, on a 10-year lease paying £2150 per month in rent. We understand the tenant has spent a considerable amount refurbishing the commercial unit. The upper parts are occupied by a law firm on a license with 3 years remaining at a rent of £1,400 per month. We understand the tenancy is outside the Landlord and Tenant Act. There is also a rear garage let on an unknown tenancy schedule for £300 per month.

The gross annual income received is £48,900.

Price: Offers in the region of £800,000

Gross initial yield: 6%

Rates: Interested Parties should make their own enquiries direct to the local authority.

VAT: VAT is not applicable.

EPC: D 77

Measurements:

Ground floor:
Main retail area: 682.43 ft²
Internal storage: 306.98 ft²
External storage: 148.54 ft²

First Floor Office: 322.91 ft²
Second Floor Office: 451.43 ft²

Total floor area: 1912.29 ft²

Legal Fees: Each party to bear their own legal costs incurred for this transaction.

Viewing: Please contact our office on 0208 904 5040 to find out more information.

Holding deposit: Tenants or prospective purchasers wishing to secure this property will be required to pay a holding deposit to Glenmore Property Services of £3,000. The deposit is non-refundable except if the vendor withdraws, or a clear title cannot be proven. This deposit is held in our client account until completion.

These particulars are prepared for the guidance of prospective purchasers. They are intended to give a fair and overall description of the property and do not constitute the whole or any part of an offer or contract. Any information contained herein (whether in text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact. Any plans provided by the agents and/or with the sales particulars are intended for guidance purposes only; we cannot guarantee the accuracy and scale of any plans, and they do not form any part of the sales contract.

Money laundering regulations: To comply with money laundering regulations, prospective purchasers will be asked to produce identification documentation at the time of making an offer. We ask for your cooperation in order that there is no delay in agreeing the sale.

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IMPORTANT NOTICE

Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.