This property portfolio consists of three mid-terraced commercial units, complemented by upper-level residential space, situated at a strategic location on Station Parade. The site benefits from high visibility at the intersection with Belmont Circle roundabout, an area familiar to local residents and commuters alike. Surrounding amenities include well-known retailers such as Tesco, Wenzels, and Costa Coffee, enhancing foot traffic and accessibility.
Belmont Circle serves as a key retail hub within the commuter town of Harrow, located roughly 11 miles northwest of central London. As a mixed-use area, Harrow presents a blend of residential and commercial opportunities appealing to both families and businesses.
The ground floor shop at 8 Station Parade features a basement and dedicated parking space, currently leased to Mortgage and Life Ltd at an annual rent of £18,000, with a lease extending for ten years starting from July 2017. The rental agreement allows for an anticipated review in the fifth year, which has yet to be initiated.
The adjacent property at 8a Station Parade offers long leasehold residential space with a tenure of 125 years commencing in December 2004. The initial annual ground rent is set at £50 for the first 30 years, increasing to £100 for the next 30 years and then to £200 thereafter.
At 9 Station Parade, another ground floor retail unit is leased to Ladbrokes and Gaming Ltd for £15,000 per year; however, this tenant is currently holding over following the expiration of their lease in 2014. Additionally, the basement level is occupied by a local drama group responsible for business rates but will vacate when necessary.
Finally, the shop at 10 Station Parade houses an Indian restaurant operated by Mr. Miah under a long-term lease established in September 2009. This agreement allows for four-yearly rent reviews with a current annual rental income of £16,500; however, the latest review set for 2021 has not yet been implemented.
With ownership comprising both freehold interests in properties 8 and 8a along with a long leasehold interest in properties 9 and 10 (999 years remaining from December 1995), this portfolio represents significant renovation opportunities. Moreover, it includes three designated parking spaces held under a separate long-term head lease from December 1996. Given its desirable location and varied tenancy structure, this property offers considerable investment potential for future growth and development within an evolving market.
