£825,000
(£485.58/sq. ft)
Retail premises for sale20 North Parade, Mollison Way, Edgware HA8
1,699 sq. ft
About this property
Income Producing Freehold Property In A Prominent retail Position In Edgware
The Building Is Currently Producing Income In The Region Of £47,600 Per Annum Exclusive
0.6 Miles From Queensbury Station On The Jubilee Line
0.7 Miles From Burnt Oak Station On The Northern Line
Estimated Rates Payable: £8732.5
The property comprises a freehold shop and uppers situated in a prominent position on Mollison Way Edgware. The ground floor trades as a Chinese takeaway totalling approx. 721 sqft. The premises benefit from a glazed shopfront, customer waiting area, counter and fully fitted commercial kitchen with extraction to the rear. Externally, there is a small outbuilding and concrete forecourt which provides one parking space.
The upper parts comprise of two residential apartments both being two bedrooms with kitchen and toilet facilities. The first floor apartment totals 462 sqft and the second floor totals a further 516 sqft.
Location
Mollison Way is a prominent retail location in Edgware with many local retailers. Located less than a mile from both Queensbury & Burnt Oak underground stations, providing quick connections to central London via the Jubilee & Northern lines.
Income
The ground floor is currently income producing £15,500.00 per annum exclusive and the premises are let for a term of 12 years from December 2024 bus expiring December 2036 (11 years unexpired).
The first floor flat is producing £1,075 per calendar month thus totaling £12,900 per annum exclusive. The tenancy agreement expires on 22 November 2026.
The second floor flat is producing £1,600 per calendar month thus income producing £19,200 per annum exclusive. The tenancy agreement expires on 12 January 2027.
The total income achieved from the building is in the region of £47,600.00 per annum exclusive.
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