Summary
The property comprises a former pub/restaurant shisha lounge together with an adjoining retail building occupying a prominent corner site. The existing structures are to be demolished, creating a secure, level hard-surfaced open storage site. The property further benefits from a planning consent for 152-bed aparthotel together with co-working space, bar/restaurant facilities, gym and a swimming pool.
Key Points
Buildings to be demolishedConsent for 152xbed aparthotel with co-working space, bar/restaurant and gym with swimming poolSecure self-contained siteProminently locatedHard-standing tarmacked landPowerWaterClose proximity to M1 & A406Viewings
Strictly by appointment through the sole agents.
Tenure
Freehold registered under three separate titles: NGL708986, NGL478862, AGL582842
Leasehold - The property is available by way of a short-term licence on rolling three-month terms.
Anti-Money Laundering (AML) Requirements
Interested parties will be required to provide the appropriate information to satisfy current AML regulations at the stage Heads of Terms are agreed.
Disclaimer
None of the amenities have been tested by Telsar.
Price
Freehold - Offers are sought in the region of £7,000,000 (Seven Million Pounds), exclusive of VAT.
Leasehold - £100,000 per annum
VAT
We have been advised VAT is not applicable.
Planning Permission
The site benefits from planning permission (Under ref: 23/3365) for the construction of a six-storey scheme above basement which will provide:
• 152 'Aparthotel Rooms'
• Ground floor Co-Working space (3,401 sq ft GIA)
• Bar / Restaurant space of (5,296 sq ft GIA)
• Basement with 13x car parking spaces
• Basement swimming pool, gym
• Basement cycle storage facilities
Location
The property occupies a highly prominent position fronting the A5 Edgware Road at its junction with Springfield Mount within the established Colindale District of North West London. The surrounding area comprises a mixture of residential and commercial uses, including numerous motor dealerships, a 99-bedroom Premier Inn and several significant residential developments, including a scheme comprising approximately 387 apartments nearby.
Colindale Underground Station (Northern Line) lies approximately one kilometre to the North which provides frequent and direct services into Central London with a journey time of under 30 minutes.