Investment Consideration
Rental Income: £180 p.a.
VAT is NOT applicable to this property
Comprises 3 residential flats and 1 retail shop, which have been sold of on long leaseholds
Reversionary opportunity. All 3 flats have been sold on 99 Year leases until 2070.
Situated within 10 min walk from Willesden Green Underground station, with occupiers nearby include restaurants, pharmacy, café`s, beauty salon, convenience store and more.
Property Description:
Comprises corner ground floor shop with ancillary accommodation at basement (sold-off). The property includes 3 residential flats above, which have been sold-off on long leaseholds until 2070, providing the following accommodation and dimensions:
Ground Floor: Retail Shop
First Floor Flat 1: 65 sq m (700 sq ft)
Second Floor Flat 2: 59 sq m (635 sq ft)
Third Floor Flat 3: 59 sq m (635 sq ft)
Tenancy:
The retail shop has been sold-off on long leasehold for a term of 999 years from 2025 at a ground rent of peppercorn.
Flats 1,2,3 have been sold-off on long leaseholds for a term of 99 Years from 29th September 1970 at a total ground rent of £180 p.a. (£60 each)
Fixed increase to £90 p.a. each in September 2037 until the remainder of the term. Reversion 2070.
Location:
Willesden is a densely populated suburb located some 5 miles north-west of Central London. The area enjoys good communications, being adjacent to the North Circular (A406) and having underground services at Dollis Hill and Willesden Green (Jubilee Line). The property is situated on the junction of High Road and Gowan Road. Willesden Green underground station is approximately 0.5 miles to the east of the property. Retail occupiers nearby include restaurants, pharmacy, café`s, beauty salon, convenience store and more.
