The property occupies a prominent position at the northern end of Green Lanes (A105) at the junction with Green Dragon Lane and Ridge Avenue, in the affluent north London suburb of Winchmore Hill. Local occupiers include Waitrose, The Post Office and a number of cafes, resturaunts, Gyms and independent retailers.
The location has excellent communication links. Winchmore Hill Mainline Station is 0.75 km (0.47 miles) to the south west of the property, which provides frequent direct services to London Moorgate Station (with a journey time of 28 minutes) and Finsbury Park Station (with a journey time of 15 minutes).
Green Lanes is a major bus route and there are several bus services (including the 125, 329, N29), which stop in the immediate vicinity of the property.
There is unrestricted parking on Bush Hill 40m to the north.
Gross internal area 124.55 sq.m. /1340 sq.ft.
Total income passing p.a.: £18,360
The property is a prominent a freehold mixed use retail (formerly A2 Use, now Class E) and residential building.
The ground floor unit comprises a double fronted estate agency office, with predominantly open plan office accommodation to the front, two private offices, separate WCs and kitchen/staff room to the rear. The ground floor is let on a 10 year effectively fully repairing and insuring lease from 25th December 2015 and has a passing rent of £18,360 pa. The lease features a tenant only break option which the tenant has operated and vacant possession will be provided by 24th September 2022.
The residential upper parts comprise a 2 bedroom flat accessed from an external staircase from the rear of the property. The flat has been sold off on a long lease. The first floor flat benefits from planning for the 'Conversion of roof space into 1 x 1 bedroom self contained flat involving rear dormer and roof lights to the front' (ref. 18/01241/FUL).
Copies of leases and the planning decision notice are available to download from our website.
Freehold for sale. The ground floor is let on a 10 year FRI lease from 25th December 2015, with a passing rent of £18,360 pa. We understand that the Tenant has operated their break option and Vacant Possession will be provided on 24th September 2022. The first floor flat has been sold off on a long lease (189 Years from 24th June 1982) and currently generates a ground rent of £100 per annum. The property is not elected for VAT so VAT will not be payable on the purchase price.
Rateable value: £25,500
Estimated Rates Payable: £12,240 per annum
Service charge: n/a
Local authority: London Borough of Enfield