Retail premises for sale in 8-10 Station Parade, Kenton Lane, Belmont Circle, Harrow HA3

Key Points

Description

The portfolio comprises of the freehold and long leasehold interest of 3 mid-terraced shops and uppers situated in a prominent position on Station Parade at its junction with Belmont Circle roundabout. Nearby retailers include Tescos, Wenzels, and Costa Coffee. The aerial photos above show a self-dedicated car park to the rear of the portfolio.

Location

Belmont Circle is a well-known parade locally within the commuter town of Harrow. Harrow is a popular residential and commercial area which lies approximately 11 miles north-west of central London.

Tenancy Schedule / Income

8 Station Parade ground floor shop with basement and parking let to Mortgage and Life Ltd at a rent of £18,000.00 per annum lease 10 years from July 2017 review at the 5th year (not implemented). The lease is outside the act.

8a Station Parade residential sold on a long lease for a term of 125 years from December 2004 £50.00 for the first 30 years £100.00 for the next 30 years and £200.00 for the remainder.

9 Station Parade ground floor shop let to Ladbroke and Gaming Ltd at a rent of £15,000.00 per annum with the tenant holding over under a lease which expired 2014.

Basement 9 Station Parade let to a local drama group who are responsible for paying the business rates. We understand that the drama group will vacate when necessary subject to contract.

10 Station Parade ground floor shop with basement and garage let to Mr. Miah (Indian Restaurant) for a term of 20 years from September 2009 subject to 4 yearly rent reviews at a rent passing of £16,500.00 per annum payable from 2017. The 2021 review has not been implemented. The lease is outside the act.

Tenure

The Client owns the freehold of 8/8a Station Parade and a long leasehold interest of 9 and 10 Station Parade which is for a term of 999 years from December 1995 with 3 parking spaces also held on a 998 year head lease from December 1996.