Property for sale

High Street, Barkingside, Ilford IG6

Freehold mixed-use investment opportunity with potential airspace development, located in a prime position in Barkingside, North East London. The three-storey building comprises 10 x commercial units on the ground floor and 16 x flats on the upper two floors. The property has a current passing rent of
£400,545 per annum. There is development potential for one additional floor (STPP). Offers are invited in excess of £5,000,000 for the freehold interest, subject to contract. A sale at this level would reflect a net initial yield of 7.5% assuming purchasers cost at 6.5%.

Location / Situation

The property is located in a prime position fronting onto Fullwell Cross Roundabout, the junction of Fairlop Road, Fullwell Avenue, and Barkingside High Street in Barkingside. Barkingside is a well-connected suburban area in the London Borough of Redbridge, in North East London.

Local amenities include a variety of shops, schools, cafés, restaurants, and supermarkets. The area is known for its vast green spaces, such as Fairlop Waters Country Park, and leisure facilities, such as Fullwell Cross Leisure Centre and Redbridge Sports Centre, all within close walking distance to the property.

The area benefits from excellent transport links, with Fairlop Underground Station 0.3 miles from the property and Barkingside Underground Station 0.7 miles from the property, both providing direct connections to the City and West End via the Central Line, along with convenient road access via the A12 and North Circular.

Tenure

Freehold (title number EX96960)

Tenancy

The property is to be sold subject to existing leases. The property is currently producing £400,545 per annum.

All commercial units are fully let, contributing £204,875 per annum. One unit is a double shop.

The residential units contribute £195,670 per annum. 11 of the flats are let on ASTs, 1 flat is let on a regulated tenancy with tenant in place for over 52 years (Flat 16), and 4 are sold off on long leases (Flats 3,8,9, and 11).

Please refer to Tenancy Schedule in Brochure.

The Property / Future Development

Following positive Pre Application advice received in January 2024, plans have been prepared to show a potential single storey and double storey rooftop extension to add between 7-14 additional residential units. A planning application was submitted in May 2025 for a single storey extension providing an additional 7 residential units, which was subsequently withdrawn. Information on this application and reasons for the withdrawal can be provided upon request.

Terms

Offers are invited in excess of £5,000,000 for the freehold interest, subject to contract. A sale at this level would reflect a net initial yield of 7.5% assuming purchasers cost at 6.5%

Vat

The property is not elected for VAT.

Data Room

A data room with all relevant documents for the property is available and access can be provided upon request.

Viewings

Viewings strictly by appointment through joint agents Harston&Co and Lewis & Partners.