Block of flats for sale

The Grove, Edgware HA8

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)