Comprises a self-contained office building arranged on ground first and second floors which has undergone comprehensive refurbishment.
The first and second floor offices are currently divided into 6 suites, 2 of which are currently vacant.
Location
The office building is situated on the North West side of Hendon Way (A41) close to the junction with Vivian Avenue. Hendon Central Underground Station (Northern Line) is within a minute walk away and excellent road communications are afforded to the West End and City via the A41, North Circular Road (A406) and Great North Road (A1).
Accommodation
1st Floor
Suite 1 - 400 sq ft - Vacant
Suite 2 - 115 sq ft - Vacant
Suite 3 - 130 sq ft
2nd Floor
Suite 4 - 335 sq ft
Suite 5 - 115 sq ft
Suite 6 - 195 sq ft
397-399 Hendon Way - Ground Floor Office / Retail - 1,045 sq ft
Terms
PRICE - £875,000 plus VAT, for the benefit of the Freehold interest reflecting a gross yield of 8.86% upon full occupation. It is anticipated that the sale will be by way of a TOGC.
PLANNING - The London Brough of Barnet have granted planning permission application Number 15/05030/FUL
https://publicaccess.barnet.gov.uk/online-applications/applicationDetails.do?activeTab=summary&keyVal=NSUS64JIHP100
to provide 4 self contained flats (2 x 1- 2 bed duplexes, 1 x 1 bed and 1 x studio) on the first, second and third floors.
The consent included an extension to the roof, removal of the exiting staircase and a three-storey rear extension. This has been partially implemented and the CIL paid.
TENANCY & INCOME - Currently let and producing £55,970 per annum exclusive with an ERV of £77,570 per annum exclusive, once fully let.
EPC - B
LEGAL COSTS - Each party to be responsible for their own costs incurred.
Specification
- OF INTEREST TO INVESTORS, DEVELOPERS AND OWNER OCCUPIERS
- GROUND FLOOR OFFICE TOGETHER WITH P.P. FOR 4 FLATS ABOVE
- FREEHOLD FOR SALE