This substantial mixed-use property sits on the bustling Northfield Avenue in West London, presenting a notable opportunity for investors and renovators alike. With its strategic location, the property offers a blend of immediate rental income and promising development potential.
The structure comprises a ground floor commercial unit, two self-contained residential flats, and a rear office space. The commercial unit is currently leased under a full repairing and insuring lease, ensuring a steady income stream. The two residential flats are both occupied under Assured Shorthold Tenancies, contributing to the property's overall yield. Meanwhile, the rear office is vacant, which opens up possibilities for immediate leasing or redevelopment, allowing for tailored use based on market demand.
Investors will appreciate the dual-income potential from the commercial and residential elements of the property while also recognizing opportunities for enhancement. The vacant office space provides flexibility for new tenants or could be repurposed to maximize usability. Additionally, both residential units come with the option to extend into loft spaces above (subject to planning permission), further increasing value.
Upon completion of the sale, each unit will be sold with new 999-year leases (virtual freehold), providing security and longevity to ownership. Buyers can opt to acquire individual units or the entire property along with freehold rights.
This diverse asset is not only attractive due to its current income but also holds significant potential for long-term growth through reconfiguration or expansion. Located in an area known for its strong rental demand and community amenities, this property represents a unique investment opportunity in a desirable part of West London.
Prospective buyers are encouraged to carry out their own due diligence regarding planning permissions and rental forecasts to fully understand the scope of what this property has to offer.
