Halifax, 427 High Road | Property for sale | Savills
Guide price £1,400,000

Halifax427 High Road

  • Leasehold
Retail

Key features

  • Investment let at £102,000 p.a.
  • Ground floor and basement let to Bank of Scotland PLC until 2027 (no breaks)
  • Fronts very busy High Road with high footfall.
  • Prominent, sizable, double fronted property.
  • Future potential to split into 3 shop units (subject to the requisite consents)
  • Outstanding rent review potential to increase the rent (subject to negotiation)
  • Less than 200 metres east of Wembley Central Station
  • Total NIA an approx. 439 sq m (4,724 sq ft).

Of interest to Investors. Virtual freehold Halifax bank investment. Well located for Wembley Central Station. Investment let at £102,000 p.a.

About this property

  • The property comprises the ground floor and basement of a prominent four storey mixed use building. It is understood that the upper parts of the building are in residential use. Ground floor and basement let to Bank of Scotland PLC until 2027 (no breaks). There is possible future potential to convert the unit into 3 sperate retail spaces (subject to the requisite consents) proposed plans have been included in the photos.

Local information

  • Location:
  • The property lies within an area administered by the London Borough of Brent approximately 13 kilometres (8 miles) north west of central London.
  • It fronts the southern side of Wembley High Road (A404) near its junction with London Road.
  • It is surrounded by a mixture of both commercial and residential properties.
  • Wembley Stadium and its railway station lie within short walking distance to the east.
  • Transport:
  • National Rail, Overground & Underground - Wembley Central Station (Southern & West Midlands, Overground and Bakerloo)

Additional information

  • Accommodation:
  • According to the Valuation Office Agency, the property has the following approximate net internal areas:-
  • Ground floor - Approx. 235 sq m (2,529 sq ft)
  • Basement -Approx. 204 sq m (2,195 sq ft)
  • Total NIA - Approx. 439 sq m (4,724 sq ft)
  • Tenure:
  • Virtual Freehold: 999 years from 8th November 2021 on a fixed peppercorn rent.
  • Tenancy:
  • Let to Bank of Scotland PLC (t/a Halifax)
  • Lease 9 years from the 18th October 2019 (No breaks)
  • The lease expires in October 2027
  • Outstanding rent review
  • Investment let at £102,000 per annum.
  • Planning:
  • From enquiry of the London Borough of Brent we have established that the property is not listed and nor does it lie within a conservation area.
  • Notes:
  • Joint Auctioneer:
  • Panayiotis Themistocli
  • panayiotis.themistocli@agg.uk.com
  • M: 07973 856 232
  • Please note the site areas provided are approximate. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.