Off Market – London Commercial To Residential Development With Potential To Build 5-6 Studio’s
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The Billionaire Network is pleased to offer this Off Market – UK Commercial To Residential Development With Potential To Build 5-6 Studio’s
Property Details
Reason for sale – The owner doesn’t want to hang onto this asset anymore and would rather sell it.
Area – Ealing, W5 Tenure – Freehold
Bedrooms – Just offices and a commercial unit at the bottom. Bathrooms – 1 bathroom
Reception Room – Just offices
Investment Plan – Commercial to residential development. This building is currently offices with a commercial unit at the bottom producing income. The offices up top are all vacant. It previously had planning granted for change of use into residential units to build 5-6 studios or 2 x 2 bedroom flats and a 1 x 1 bedroom flat. The previous planning has expired, you’ll have to re-apply. I’m happy to pass over the owner’s previous application to you with all the relevant information in helping you re-apply again if need be.
It’s a 4 storey building with so much potential to extend onto the rear which is a bonus. The owner has also installed a new roof just recently which is another bonus. The commercial unit downstairs has another 3-4 years left on the lease. After 3-4 years that’s when you will be able to change the price on the lease and let it out to someone different for a higher income. The current rent is £40,000 per year for the commercial unit at the bottom.
Based on current market value possible rental income: 4 Studios x £1,800 = £7,200 per month. Which is roughly £86,400 per year. Got this looking at agreed rentals on zoopla and rightmove and came roughly to this figure.
Asking Price – £2.4M + 2% buyers fee – n/a
Condition of property – It’s in an okay condition but I’d think the offices will all get knocked down to rebuild flats anymore.
Train Station – Ealing Broadway Station is just 5 minutes walk.
Amenities – This property is located in one of the busiest areas of London. There are so many
shops, restaurants, bars, shopping centers and so much more! It’s on a very busy high road.
Please view this presentation for more details HERE
COMMISSIONS AVAILABLE TO ANYONE FOR SUCCESSFUL CLOSURE
For more information please contact us ASAP
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