This property presents a unique opportunity with significant renovation and investment potential, situated on a lively high street that assures consistent foot traffic.
The commercial space spans the basement and ground floors, currently leased under a monthly license generating an annual income of £17,500. The existing tenants have maintained their occupancy for over 15 years, and discussions for formalizing a long-term agreement are underway. There is also the possibility for these tenants to downsize their operations, allowing for a reconfiguration of the space post-renovation.
On the residential front, the first floor contains a sizable one-bedroom flat that is presently vacant and requires modernization; it offers about 720 square feet of living space (NIA). The second-floor unit is another one-bedroom flat measuring approximately 652 square feet (NIA) and is occupied by an assured tenant who contributes £15,000 annually in rent. This tenant inherited their tenancy rights, with a rent review scheduled for November 2025.
Planning options provide substantial avenues for increasing value. Option one involves plans submitted on May 13, 2025 (Ref: 25/2002/ful) to demolish the rear storage building and construct side and rear extensions while excavating the basement and adding a mansard roof extension. This could yield three additional residential units totaling roughly 1,480 square feet (NIA), with an estimated CIL payment of around £48,000.
Option two has been approved (pending signing of the S106 agreement as of December 4, 2023; Ref: 23/1660/ful) for converting the property into five self-contained flats. This includes necessary alterations such as rear extensions at lower ground and ground levels and enhancements to the roof structure to introduce an additional third floor. The plan aims to maintain approximately 844 square feet of commercial use within the existing layout while adding three further residential units, culminating in around 3,012 square feet (NIA). The projected CIL here is around £52,000.
Ideally located on East Finchley High Road, this property benefits from its proximity to essential transport links; it’s just a five-minute walk from East Finchley Underground Station (Northern Line), which connects effortlessly to central London. Additionally, major thoroughfares like the A406 North Circular and M1 are easily accessible within two miles.
The surrounding area boasts a diverse mix of local amenities including well-known retailers like Sainsbury’s Local and Café Nero alongside an array of independent shops
