Freehold Shop and Upper Parts For Sale - Colindale NW9

Highly reversionary - Regulated residential tenancy

217 Colin Parade, Edgware Road,  Colindale, LONDON NW9 6LP

Features

  • Highly reversionary freehold mixed use (retail and regulated tenancy residential) investment for sale
  • Residential rent has not been increased since 2013
  • Gross Internal Area: 131 sq m (1,404 sq ft)
  • Desirable North-West London location
  • Bustling retail parade with an abundance of retailers, eateries and leisure facilities
  • Excellent public transport communications
  • 850m to Colindale London Underground Station (Northern Line)
  • 1.25km to Hendon Station (Thameslink)
  • Brent Cross Shopping Centre: 2km

Guide price £499,500 subject to contract

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Location

Situated on the west side of Edgware Road (A5) between Hendon and Colindale the property is located on a vibrant section of a retail parade between Wakemans Hill Avenue and Springfield Mount. Local occupiers in the immediate vicinity include Premier Inn (Hendon - The Hyde), Lexus Edgware Road, J D Weatherspoon, Costa Coffee, The Post Office, Jemca Toyota, Morrisons and The Gym Group, as well as an abundance of independent retailers, eateries and leisure facilities. Brent Cross Shopping Centre and the nearby Cricklewood regeneration is approximately 2km to the south. 

There are excellent public transport communications, with Colindale London Underground Station (Northern Line) 850m to the north of the property and Hendon Station (Thameslink) located 1.25km to the south-east. There are a number of bus routes providing connections to Brent Cross, Kilburn, Edgware and Watford which stop in the immediate vicinity of the property. 

Accommodation

Gross internal area 130.50 sq.m. / 1404 sq.ft.) 

Total income passing p.a.: £20,934

Ground Floor Commercial Unit51.90 sq.m. / 558 sq.ft.
Lock up shop, currently trading as an international mini-market.
Let on a 15 year lease from 27th May 2022 with 5 yearly rent review patterns.
Income passing p.a. £15,000
First and second floor maisonette78.60 sq.m. / 846 sq.ft.
4 bedroom maisonette with 2 rooms and kitchen on first floor and 3 rooms and bathroom with WC on the second floor. Entrance to the maisionette is through the large private garden, which is accessed from the rear service road.
Let on a regulated tenancy.
Income passing p.a. £5,934

Description

The property comprises a mid terrace mixed use building arranged over ground, first and second floors and occupying a plot of 0.03 acres.

The ground floor lock up shop is let on a 15 year lease from 27th May 2022 and is currently trading as a mini-market. The space is predominantly retailing / sales area towards the front of the property, with a rear storage room (featuring an increased ceiling height of 3.84m to part) and WC. 

The first and second floors comprise a 4 bedroom maisonette with a large private garden. The property is let on a regulated tenancy with a passing rent of £5,954 per annum and is in a dated condition. We understand the rent has not been increased since 2013.

Copies of the tenancies are available to download from our website. 

Terms

Freehold for sale subject to the respective tenancies operating therein. Further details are available to download from our website.

Viewings

By prior appointment with Gilmartin Ley, telephone 020 8882 0111.

Service charge: n/a

Local authority: London Borough of Brent

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Property reference: 32087 Updated: 17 Feb 2025