Detached house for sale in Churchfield Road, London W3

Description

Development opportunity!

Freehold 4-storey corner building on popular Churchfield Road. The property includes a commercial restaurant on the ground floor and basement, leased to an Indian Restaurant. The upper floors have 8 bedsits with pay-as-you-go electric meters, and water and council tax included. Total gross income is approximately £69,500 per annum. Additional benefits include a rear garage.

Commercial:
Leased to an Indian restaurant for the last 10+ years with a current rent of £19,500 per annum. Approximately 1,260 sq ft (ground floor 690 sq ft and basement 570 sq ft). Lease is 20 years from 06.02.2013

Residential Accommodation:
A well-proportioned 8 bedsits/rooms, each with separate pay-as-you-go electric meters, with water and council tax included in the rent. The current income for these rooms is approximately £50,000 per annum.

Total Income:
Approx. £69,500 per annum with potential to increase, as some of the room rents have not been increased for nearly 10 years.

Further Benefits: Includes a garage at the back.

This property would attract buy-to-let investors, developers looking for a project to convert into flats (subject to planning consent), or those interested in keeping it as an HMO investment.

Location:
Churchfield Road offers a fantastic selection of independent shops, offices as well as an increasingly affluent residential area. The property benefits from being opposite the Oaks Shopping Centre, which provides 11 new retail units, a gym and 168 flats. Acton Central (Overground), Acton town (Piccadilly Line) and Acton Mainline stations (Elizabeth line) stations are nearby as well as buses leading to Ealing Broadway, Central London, Hammersmith and Chiswick.

Tenure: Freehold