Investment Opportunity In Central Wembley

An excellent opportunity to acquire a desirable mixed commercial and residential investment property in central Wembley.

Location:
456 High Road is located in central Wembley and is a tenth of a mile from Wembley Central train station. The property can be accessed from High road and Park Lane.

Description:
The ground floor of the property is made up of a restaurant premises. The first and second floors are accessed via an external staircase to the rear of the property, and are currently used as a House of Multiple Occupation (HMO). The HMO comprises of five bedrooms with ensuites and a communal kitchen. The Property is currently let to a tenant who occupies the entirety of the premises.

Tenure:
Freehold, subject to a Landlord and Tenant Act 1954 lease. The current lease is for a 20 year term expiring in June 2043 at a rent of £52,500 per annum increasing to £55,000 in June 2025 and an open market rent review provision in June 2028. This lease is contracted in to the provisions of Section 24—28 of the Landlord and Tenant Act 1954 and is on a repairing and insuring basis.

Business Rates
The Ratable Value for the property is shown on the Valuation Office website as follows:
Restaurant and Premises: £41,000

EPC:
EPC band B, rating 34

VAT:
Any guide price quoted or discussed is exclusive of VAT. In the event that a sale of the property, or any part of it, or any right attached to it, becomes a chargeable supply for the purposes of VAT, such tax will be payable in addition.

Method of Sale:
The property is available as a whole by private treaty.

Land Registry Title Number:
AGL188980

Services:
The property is connected to mains water, drainage and electric. Such services have not been checked or tested.