This offering includes two adjacent freehold buildings that can be acquired as a pair or separately, presenting a unique opportunity for both owner-occupiers and investors.
At 53-55 Woodhouse Road, the ground floor is currently occupied by Signstar, a well-established sign shop that has been in place for over a decade. This tenant operates under a 10-year lease initiated in 2022, with about seven years remaining and an annual rental income of £18,000, subject to five-year rent reviews. The upper portion of this property consists of a spacious maisonette across two floors that is in need of renovation. Although no planning applications have been submitted yet, there is potential to convert this space into three separate one-bedroom flats—a concept supported by successful developments in the area.
Moving to 57-59 Woodhouse Road, this building features a ground-floor barber shop, Figaro Barbers, which has secured a 10-year lease starting July 2025 for £19,000 annually, also subject to five-year reviews. Above the shop is a recently converted three-bedroom flat let to Barnet Council on a five-year term from March 2023 at £20,208 per year. Notably, the lounge functions as an additional bedroom in this arrangement. The current tenancy reflects an under-market rental rate due to previous refurbishment grants provided by Barnet Council.
The properties benefit from their prime location with strong foot traffic and nearby amenities. Recent developments in adjacent buildings have set precedents for expansion potential; specifically, there’s been successful utilization of loft spaces and additional floors. This opens avenues for future growth or further diversification of rental capacities.
In summary, these properties not only provide immediate rental income but also present significant renovation potential to enhance value through redevelopment or conversion strategies. Whether retained as existing commercial investments or transformed into residential units, they are strategically positioned to take advantage of local market trends and evolving community needs.
