This freehold property presents a unique development opportunity in the vibrant area of Southall, situated less than a 10-minute walk from the Crossrail station. The existing structure comprises a three-story block containing nine 2-bedroom flats, all of which are sold on long leases (note that no residential units are part of the sale). Additionally, there are 12 derelict garages on the expansive plot, with ownership of seven garages retained by the freeholder and five assigned to leaseholders.
The site offers significant potential for redevelopment, pending necessary approvals. Plans could involve replacing the dilapidated garages with three new 2-bedroom mews homes at the rear and constructing one 3-bedroom house at the front, although alternative development options may also be viable given local precedents for similar projects.
Furthermore, there is a possibility to pursue land acquisition involving the rear gardens of Belmont Avenue, accessible through Western Court, which could further enhance development prospects subject to successful negotiations and planning consents.
Current ground rent income from the flats yields £405 annually. A detailed schedule of accommodation is available upon request for interested parties. Note that some common areas may require improvements; however, expenses can be recouped from leaseholders per lease terms—legal counsel should be sought for clarity on these provisions.
