SoldRarely Available Freehold Investment For Sale - Winchmore Hill N21

Fully let mixed use investment with development potential

59 Station Road,  Winchmore Hill, LONDON N21 3NB

Features

  • Rarely available freehold building in affluent and highly sought after North London location
  • Passing rent: £58,600 per annum
  • Development and reconfiguration potential STPP
  • Less than 40m to Winchmore Hill Rail Station
  • Within 100m of The Green, Winchmore Hill

Location

Winchmore Hill is a highly desirable and affluent North London suburb. The property is situated at the western end of Station Road less than 40m from the Railway Station and less than 100m from The Green, the prestigious heart of Winchmore Hill.

Station Road extends between Green Lanes (A105) to the east and The Green, Winchmore Hill to the west. The subject property is located on the south side of Station Road, west of the junction with Roseneath Avenue. Local occupiers include The Post Office, Buckle and Vaughan, Hopper & Bean, Going Greek, The Larder, The Kings Head, The Salisbury Arms and Coco Hair and Beauty, as well as a number of boutique shops, cafés and pubs.

The location has excellent communication links. Winchmore Hill Mainline Station provides direct services to Finsbury Park (Victoria & Piccadilly Lines) and Moorgate (Northern Line), with journey times of 16 minutes and 31 minutes respectively. Northbound services provide further links to Hertford North and Stevenage.

Accommodation

Gross internal area 223.80 sq.m. /2408 sq.ft. 

Total income passing p.a.: £58,600

Ground Floor Shop (59b)33.35 sq.m. / 358 sq.ft.
Let on a 15 year lease from 1st April 2017
Income passing p.a. £21,000
Ground Floor Rear Office (59c)29.91 sq.m. / 321 sq.ft.
Let on a 5 year lease from 7th April 2022
Income passing p.a. £8,500
1st Floor Office (59a)54.06 sq.m. / 581 sq.ft.
1 demised car parking space
Let on a 4.33 year lease from 1st April 2022
Income passing p.a. £18,000
2nd & Part 1st Floor Maisonette (59d)51.47 sq.m. / 554 sq.ft.
Let on a 12 month AST from 1st July 2021 at a rent of £925 pcm
Income passing p.a. £11,100

Description

The property is a three storey, mid-terrace, mixed-use building, which is fully let and generating a passing rent of £58,600 pa and comprises:

Ground floor lock up shop (59b) - Currently trading as a nail salon, the unit is configured to provide a treatment area to the front of the property, with rear kitchenette and WC. The shop is currently let on a 15 year lease from 1/4/17 and has a passing rent of £21,000 pa.

Ground floor rear office (59c) - The office is configured as two office rooms with a separate WC and is accessed via a service road off of Roseneath Avenue, to the rear of the property. The office is currently let on a 5 year lease from 7/4/22, has a passing rent of £8,500 pa and excludes the security of tenure provisions afforded by the Landlord and Tenant Act 1954.

First floor office (59a) - The office is configured as three office rooms and has a kitchen and WC facilities. The office benefits from its own entrance from Station Road. The tenant has the right to park one motor vehicle in the yard at the rear of the property, accessed via the service road. The office is currently let on a 4.33 year lease from 1/04/22, has a passing rent of £18,000 pa and excludes the security of tenure provisions afforded by the Landlord and Tenant Act 1954. The property is currently in use as a physiotherapists administrative office.

Second & part first floor maisonette (59d) - This is a generously sized split level 1 bedroom maisonette. The flat benefits from gas central heating and is currently let on a 12 month AST from 1/7/21 at a rent of £925 pcm (£11,100 pa).

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

Terms

Freehold for sale subject to existing tenancies.

Rateable value: £24,100

Estimated Rates Payable: £11,568 per annum

Service charge: TBC

Local authority: London Borough of Enfield


Property reference: 27057 Updated: 04 Jul 2023