Residential Development For Sale
The property is situated just off Greenford Road and the nearest transport is Sudbury Hill (Piccadilly Line) and Sudbury Hill Harrow (mainline) Stations. Westway Cross Retail Park is within 1.5 miles form this location. Further shopping facilities are to be found in Wembley and Harrow on the hill which is short distance away.
A detached 1930 residential block of flats arranged over part lower ground floor, ground and 2 uppers floors. The block comprises 12 flats which are all sold off on long leases. The property is of traditional construction with a flat roof. Some of the garages form part of the lower ground floor and there is a further small block of garages in the grounds. Most of the garages are retained as part of the freehold with the exception of one which has been sold off.
Planning permission was granted by Harrow Council ref: P/0876/21/PRIO on 26 May 2020 for the construction of an additional two storeys of development containing 8 flats on an existing detached block of flats. The additional flats will comprise 4 x 2 bedrooms and 4 x 1-bedroom flats with a total proposed NIA 4,768 Sq. Ft. The anticipated GDV of the scheme will be circa £2.665 m, which breaks back to approx. £550 psf.
Existing Accommodation & Tenancy Schedule:
The table shows the existing flats and their lease terms. Flat 1,4,7 & 8 will be held by the freeholder in a headlease.
|Flat||Floor||Start Date||End Date||Residual Term|
Garage 7 is sold on a lease for 125 years from 1972 and therefore has a residual term of 75 years approx..
The 13 other garages are held as part of the freehold.
We believe the premises fall under Class C3 of The Town & Country Planning (Use Classes) (Amendment) (England) Regulations 2020.
The landlord employs Willmotts to administer the annual service charge for the property, Further details can be provided on application.
Offers in excess of £1,025,000 are invited for the freehold interest subject to the existing leases.
Section 5 Notices:
The seller will serve Section 5 notices upon agreement of a sale and exchange will not occur until such time the S5 notices have expired.
In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from any successful Purchaser.
Energy performance certificates area available on request.
Each party to bear its own legal costs.