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38 Park Parade, Harlesden, NW10 4JE

452 Sq Ft / Other / Investment

For Sale - £250,000.00

Available - Last updated: 18 April 2024

Summary

The property encompasses a ground-floor shop with 3 sold off self-contained flats situated on the upper floors.

The shop is let to a clothing alterations service on a Full Repairing and Insuring lease for a term of 10 years from 27th May 2020. Therefore having 6 years unexpired. The lease is Outside the Landlord & Tenant Act. There is forthcoming rent review on 27th May 2024 - a rent increase has been agreed of £15,600 per annum.

The 3 flats have been separately sold off on the following lease terms.

38a: 125 years from 16th July 2020 (121 years unexpired). The ground rent is £100 per annum.
38b: 999 years from 18th November 1987 (962 years unexpired). The ground rent is £450 per annum.
38c: 999 years from 18th November 1987 (962 years unexpired). The ground rent is £450 per annum.

The total annual income is £16,600. Representing a gross yield of 6.6%.


Key Points

  • Freehold
  • Mid Terraced Building
  • Income Producing Retail
  • Residential Flats Sold Off
  • Nearby Occupiers Include Santander & Costa Coffee
  • Within Walking Distance Of Willesden Junction Station (Overground and Bakerloo Line)
  • Location

    Harlesden located in North London within the London Borough of Brent, is a vibrant locale boasting a diverse community and excellent transportation connections via the Overground and Bakerloo Line.

    This property is conveniently located amidst a plethora of independent retailers, with the High Street just a few minutes' walk, hosting renowned national brands such as Costa Coffee and Santander.

    Strategically positioned, the building is a mere 0.6 miles from Willesden Junction Train Station and 1 mile from Kensal Green tube station, offering routes to central London, with London Waterloo accessible in just 30 minutes.

    Property Quote Price(s)

    DescriptionSale typeGuide pricePrice type
      For Sale Freehold £250,000.00 NA

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    Contact agents

    Cormac Sears

    Forest Real Estate

    020 3151 9095

    Ethan Shine

    Forest Real Estate

    020 3369 0464



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