158-160 High Road, London, NW10 2PB

Guide Price* : £1,800,000

D1/C3 Investment Opportunity with Development Potential (Subject to Planning)

  • Ground floor dental practice (Use Class D1) extending to approximately 1,238 sq ft (115 sq m) GIA subject to a 20 year lease, expiring 8th July 2034 with a passing rent of £22,000 per annum, subject to 4 yearly rent reviews to the open market rent.
  • Two maisonettes and three residential flats let on AST Agreements producing a gross income of £101,400 per annum.
  • Potential to construct a third storey extension (including mansard roof extension) in order to uniform the roof line with neighbouring properties and extend to the rear, subject to planning permission.
  • Opportunity to refurbish the existing buildings and improve amenity space to enhance rental growth and maximise income.
  • Long term opportunity to redevelop the entire site, subject to planning and vacant possession.
  • The total site area extends to 0.16 acres (0.06 ha) with double frontage to High Road.

Description

The site currently accommodates a two storey brick building with UPVC windows and pitched slate roof containing velux roof windows. The ground floor is used as a dental practice (no. 158 – 160) with residential units at the rear and on the first floor (no. 158a, 158b and 160a). The residential units are self-contained flats (2 x 4 beds and 1 x 2 bed) and accessed through a lockable door via an alley between no 158 and 156. There is a large garden to the rear of the property used for amenity space with a stone patio and two detached single storey brick built storage units with a felt flat roof. There is a former workshop building located to the rear of 156 High Road which has been converted into a two storey residential property (no. 156c and 156d) with UPVC windows and flat felt roof.

The residential units are self-contained flats (2 x 4 bed flats) and accessed directly from the courtyard, with an external metal staircase leading to the first floor flat, sheltered by a PVC corrugated roof. The site has its own access directly from High Road via vehicle or foot through a lockable entrance way. The concrete courtyard includes access rights within the title register for trade vehicles, for the purpose of off-loading goods through a side door within the courtyard and rights of way / entry on foot to and from the staircase of 156B and 156E (flats above entrance way excluded from the title).

Location

158 - 160 High Road, Including Land and Building to the Rear of 156 High Road is located in Willesden, which is approximately 2.5 miles south east of Wembley Park, 4 miles north west of Paddington Station and 6 miles northwest of Charing Cross Station. The property is situated on the northern side of Willesden High Road, providing a good variety of local independent and national retailers, cafés and restaurants. The surrounding area largely consists of period three storey buildings (including mansard roof extensions), with ground floor shops fronting onto Willesden High Road and residential units above.

Tenure

Freehold

Planning

158 - 160 High Road, Including Land and Building to the Rear of 156 High Road has planning consent for D1 (Non-residential Institution) and C3 (Dwellinghouse) use. The properties are located within the London Borough of Brent and is not listed or situated within a conservation area or flooding zone.

The building to the rear of 156 High Road was a former workshop building for Gohil Fashions. Change of use from a workshop on the ground floor to a self-contained flat was permitted Monday 11th October 1999 as per planning application reference 99/1728. Change of use of the first floor from B1 (Business) to self-contained flat C3 (Dwellinghouse) was permitted Monday 13th July 1998 as per planning application reference 98/0706.

The potential to increase the height of 158 – 160 High Road, subject to planning, is demonstrated by the neighbouring property, 156B High Road, London, NW10 2PB, obtaining planning permission 7th March 2017 for the erection of a mansard roof extension to create a third floor with a 1 bedroom self-contained flat as per the planning reference 16/5562.

It is considered by The London Borough of Brent that any extension is not to cause unacceptable harm to the subject terrace or street scene and is recommended that any proposed design is to have a traditional appearance in-keeping with the building and area. The mansard is also to be set back from existing parapet walls, appearing subordinate, respecting the character of the building.

The proposed development is to be considered acceptable in terms of the standard of accommodation, character and appearance, impact upon neighbouring amenity, transport and is in accordance with relevant policies within the London Plan (2016), Brent’s Development Management Policy (2015) and SPG 17 “design guide for new development”.

Planning Authority

The London Borough of Brent

VAT

The property is not elected for VAT

Note

Our Property Finance team have sourced indicative auction finance terms for this property at 70.00% LTV.

For more details please contact:
Adam Klein
aklein@lsh.co.uk
020 7198 2241

Contact

Joint auctioneers

Lambert Smith Hampton Benjamin Quayle
020 7198 2199
bquayle@lsh.co.uk

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £990 inclusive of VAT on purchases of £20,000 and above and £240 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.

Log in to view your status

Sold for £1,800,000

This buy-it-now lot is now closed.

Auction Ended

Connecting to server...

The successful purchaser will be required to pay the auctioneers administration fee of £990 inclusive of VAT on purchases of £20,000 and above and £240 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.


Joint Agent

Benjamin Quayle
020 7198 2199

Office Contact

Max Mason
020 7198 2051

Agreement Documents


Subject to Contract and Exclusive of VAT © Lambert Smith Hampton July 2019

Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including 574, and their joint agents if any ("LSH") for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.