Retail premises for sale in Craven Park Road, London NW10

Description

A freehold investment and development opportunity for sale in Harlesden, North West London. The property generating an annual income of £83,000 per annum, with commercial uses E & F1 Class. Shop / restaurant (use class E) fronting the High Street with place of worship to the rear (use class F1).

Location:
The property is situated in the North West London area of Harlesden, a densely populated suburb surrounded by local shops and amenities on High Street and Askew Road.

Property:
A semi-detached freehold building, built circa 1930, comprising:

* Ground floor retail unit to the front, currently trading as a Brazilian butcher, grocer, and coffee shop, with a flat above that has been sold off on a long lease.

* Ground floor rectangular single-storey building to the rear with a pitched roof, currently used as a mosque.

Leases & Income:

* Shop: 8-year internal repair and insuring lease from 30/01/2023, with 4-yearly reviews. Passing rent: £28,000 p.a.

* Mosque: 7-year lease from 27/12/2019. Passing rent: £55,000 p.a.

Upper floors residential: Sold on a long lease, 999 years from 2003, with a peppercorn ground rent.

Total: Net income £83,000 per annum, offering a yield in excess of 10%.

Tenure: Freehold