Property for sale

Greenford Road, Greenford, Greater London UB6

A prominent freehold semi-commercial investment for sale in the heart of Greenford, benefiting from planning permission for a two-storey rear extension to create a 1-bedroom flat on the first and second floors (rear)

With Rental income

The property currently comprises a ground floor commercial shop with land and studio flat to the rear, with planning permission granted to extend the ground floor commercial unit and to construct a 1-bedroom flat over the first and second floors at the rear.

The commercial unit is currently let to a tenant on a 10-year lease since 19/02/2016 for 10 years expiring on 19/02/2026. The tenant has expressed interest in renewing the lease, which is currently under negotiation, with a proposed premium of £25,000 + VAT for the new lease.

The proposed rear flat has an estimated rental income of approximately £1,100 per month, offering strong additional income potential.

The property is chain free and presents a solid investment opportunity in a growing area.

The freehold also benefits from ground rent income of £600 per annum from the front upstairs flat, which has been sold on a long lease.

Please note: The front upstairs flat is not included in the sale, as it has already been sold on a long lease.

The entrance staircase leading to the rear development/flat is included within the sale, which will provide access to the proposed residential unit in accordance with the granted planning permission.

Location:
Situated conveniently within easy reach of local amenities, parks, restaurants, supermarkets, and takeaways.

Not to be missed

Unique opportunity – Early viewings are highly recommended

To arrange a viewing, or for any questions, contact Star Estate Agents.