£2,750,000
Block of flats for saleThe Grove, Edgware HA8
Freehold
About this property
Income-producing Freehold Block
Company sale may be considered
Excellent Edgware location
Further development potential at the rear - subject to necessary consents
Built in 2019
Fully let on ASTs
A substantial freehold residential investment opportunity located in the heart of Edgware, comprising six self-contained flats, all currently let and producing a strong rental income.
Set on a large plot of circa 0.44 acres, the site also offers significant development potential at the rear (subject to necessary planning consents), making it ideal for investors or developers seeking a value-add opportunity.
The building benefits from modern construction, efficient EPC ratings, and is situated in a popular residential street within walking distance to Edgware Underground Station (Northern Line).
Key Highlights
• Tenure: Freehold
• Accommodation: Six self-contained flats, built in 2019
• Income: Currently let, producing approx. £126,000 per annum
• Development Potential: Rear land offers potential for further development (STPP)
• Total NIA: 4465 sq ft
Accommodation Schedule:
Flat Floor Beds / Type Approx. Size (sq ft)
Flat 1 Basement 3 Bed 904 sq ft
Flat 2 Ground Floor 2 Bed 667 sq ft
Flat 3 Ground Floor 2 Bed 656 sq ft
Flat 4 First Floor 2 Bed 667 sq ft
Flat 5 First Floor Studio 409 sq ft
Flat 6 Second / Loft 3 Bed 1,162 sq ft
Development Potential
• The site was previously granted planning consent under Ref: 17/1065/ful for demolition and erection of a new two-storey building with basement and loft rooms to create six flats.
• The rear section of the site offers scope for further development, subject to obtaining planning permission from the local authority.
• There is an overage on any further development (£50k per additional unit) at the site that expires in 2031
(the property is held in A ltd company that specifically owns this block. A sale of the company could be considered – bringing A vast sdlt saving)
Set on a large plot of circa 0.44 acres, the site also offers significant development potential at the rear (subject to necessary planning consents), making it ideal for investors or developers seeking a value-add opportunity.
The building benefits from modern construction, efficient EPC ratings, and is situated in a popular residential street within walking distance to Edgware Underground Station (Northern Line).
Key Highlights
• Tenure: Freehold
• Accommodation: Six self-contained flats, built in 2019
• Income: Currently let, producing approx. £126,000 per annum
• Development Potential: Rear land offers potential for further development (STPP)
• Total NIA: 4465 sq ft
Accommodation Schedule:
Flat Floor Beds / Type Approx. Size (sq ft)
Flat 1 Basement 3 Bed 904 sq ft
Flat 2 Ground Floor 2 Bed 667 sq ft
Flat 3 Ground Floor 2 Bed 656 sq ft
Flat 4 First Floor 2 Bed 667 sq ft
Flat 5 First Floor Studio 409 sq ft
Flat 6 Second / Loft 3 Bed 1,162 sq ft
Development Potential
• The site was previously granted planning consent under Ref: 17/1065/ful for demolition and erection of a new two-storey building with basement and loft rooms to create six flats.
• The rear section of the site offers scope for further development, subject to obtaining planning permission from the local authority.
• There is an overage on any further development (£50k per additional unit) at the site that expires in 2031
(the property is held in A ltd company that specifically owns this block. A sale of the company could be considered – bringing A vast sdlt saving)
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