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London UB8 - Virtual Freehold Medical/Office Investment with Future Development Potential

For sale: £555,000.00|2,088 Sq Ft|Residential, Office, Mixed Use, Healthcare, Land, Offices, Other Property Types & Opportunities, Commercial Land

Property details

FOR SALE£555,000.00
SIZE2,088 Sq Ft
ADDRESS18 High Street, Uxbridge, Greater London, UB8 1JN
TYPEResidential, Office, Mixed Use, Healthcare, Land, Offices, Other Property Types & Opportunities, Commercial Land
TENUREDevelopment Opportunity, Investment Opportunity, For Sale Leasehold
POSTED ON19th November 2021

Description

Investment Consideration:
Gross Initial Yield: 5.14%
Rental Income: £28,550 p.a.
VAT is NOT applicable to this property
Grade II Listed Building
Comprises first floor beauty clinic and second floor office premises
Total area size of 194 sq m (2,088 sq ft)
Future development potential to convert to multiple residential units, STTP
Freeholder consent for change of use granted
Located within short walk to Uxbridge Underground Station
Nearby occupiers include HSBC, Santander, Lloyds, Boots, Costa Coffee and more.

Property Description:
Comprises First Floor Beauty Clinic and Second Floor Office Premises in a Three-Storey Grade II Listed Building.
The property provides the following accommodation and dimensions:
First Floor: Beauty Clinic - 129 sq m (1,388 sq ft)
Reception Area, Treatment Rooms, Office, WC
Second Floor: Office Space - 65 sq m (700 sq ft)
Office Rooms, Kitchenette, WC

Tenancy:
The first floor is at present let to Smart Clinics* for a term of 10 Years from 25th March 2013 at a current rent of £20,000 per annum and the lease contains internal repairing and insuring covenants. Deposit held of £12,000. Lease within Landlord & Tenant Act 1954.
*Note - Lease assignment from Manpower UK Limited
The second floor is at present let to Rose Williams Limited for a term of 15 Years from 24th March 2014 at a current rent of £8,550 per annum and the lease contains internal repairing and insuring covenants. Upward only rent review and tenant option to determine in March 2024. Lease within Landlord & Tenant Act 1954.

Development Potential:
Development potential to convert existing medical and office premises to self-contained residential flats, subject to obtaining the necessary consents. Freeholder consent for change of use granted.

The proposed development would provide the following accommodation and dimensions:
First Floor: 129 sq m (1,388 sq ft)
Flat 1 – Open plan Kitchen/Living room, Bedroom, Bathroom
Flat 2 – Open plan Kitchen/Living room, Bedroom, Bathroom
Flat 3 – Open plan Kitchen/Living room, Bedroom, Bathroom
Second Floor: 65 sq m (700 sq ft)
Flat 4 – Open plan Kitchen/Living room, Bedroom, Bathroom
Total GIA: 194 sq m (2,088 sq ft)

Tenure:
Virtual Freehold. Held on a 999 Year Lease from the 19th November 2021 at peppercorn ground rent.

Location:
Uxbridge is a suburban town in West London and the administrative headquarters of the London Borough of Hillingdon. Situated 15.4 miles west-northwest of Charing Cross, it is one of the major metropolitan centres identified in the London Plan. The property is located within short walk to Uxbridge Underground Station, providing direct and fast access to Central London. Nearby occupiers include HSBC, Santander, Lloyds, Boots, Five Guys, Costa Coffee and more.

Location

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Location: 18 High Street, Uxbridge, Greater London, UB8 1JN

Uxbridge (0.1 miles)

Hillingdon (1.3 miles)

Ickenham (1.9 miles)

West Ruislip (2.4 miles)

West Drayton (2.4 miles)

Denham (2.5 miles)

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