SoldFreehold Office Investment with Development Potential - London N20

Lease expiry: 28th September 2016

Walsingham House,  1331-1337 High Road, Whetstone, LONDON N20 9HR

Features

  • Bids requested by 5pm 10th February 2016
  • Affluent North London Location
  • Site area: 0.22 acres
  • Freehold for sale subject to lease expiring 28th September 2016
  • Permitted development granted to convert the building to 14 flats
  • Potential to add additional built space
  • 16 car parking spaces
  • 2 minutes walk to Totteridge & Whetstone London Underground Station (Northern Line)
  • 23 minutes journey time from Totteridge & Whetstone Station (Northern Line) to Euston Station
  • Net Internal Area 791.53 square metres (8,520 square feet)
  • Rent passing: £136,000 (highly reversionary)

Location

The subject property is located on the west side of High Road in Whetstone, an affluent residential location north of Finchley. Whetstone is a highly desirable place to live and the location provides an abundance of leisure, shopping, entertainment, bars and restaurants. Occupiers in the immediate vicinity include Waitrose, Boots, Marks & Spencer and Costa Coffee. The High Road is a main commuter traffic route which extends between Tally Ho Corner to the south and High Barnet to the north.

The area is well served for transport communications with Totteridge & Whetstone London Underground Stations (Northern Line) being approximately 0.2 kilometres (0.3 miles) to the south west of the property. The High Road is a major bus route along which there are numerous services running at frequent intervals and there is easy access to main road communications including the North Circular Road (A406), M1 motorway, A1 and A41.

Net internal area 791.53 sq.m. /8519 sq.ft. 

Proposed Ground Floor (GIA)288.00 sq.m. / 3100 sq.ft.
1 x 2 bedroom and 3 x 1 bedroom flats
Proposed First Floor (GIA)305.00 sq.m. / 3282 sq.ft.
5 x 1 bedroom flats
Proposed Second Floor (GIA)254.00 sq.m. / 2734 sq.ft.
5 x 1 bedroom flats
  • Site area 895.23 sq.m. / 9636 sq.ft.
Plus:


Description

The property comprises a three storey 1980s office building with secure rear car park accessed via a tunnel access through 1345 High Road.

The floor plates are predominantly rectangular shaped in plan and while currently partitioned into a cellular layout are capable of delivering a more open plan configuration.

The premises are fitted out to a good specification with carpeted flooring, suspended ceilings with inset luminaires and air conditioning. A single passenger lift operates over ground, first and second floor levels.

London Borough of Barnet have granted prior approval for converting the property from office use to residential, comprising:

13 x 1 bedroom flats

1 x 2 bedroom flat

A copy of the decision notice, associated plans and other relevant documents can be downloaded from our website.

Terms

Freehold for sale subject to the lease which expires on 28th September 2016 The property is not elected for VAT

Rateable value: £108,250

Estimated Rates Payable: £53,367 per annum

Service charge: n/a

Local authority: London Borough of Barnet


Property reference: 24588 Updated: 27 Jun 2016