Property description
Freehold buildings for sale on 2 - 4 Empire Parade, N18, the demise comprises of three shops which can be sold with vacant possesion, they can stay on and lease back the units or the existing business can be purchased, furthermore there are three duplex apartments above, the demise benefits from further development potential, there is an opportunity to build out at the rear of the building (subject to planning)
The building comprises of three shops currently trading as a bathroom and heating showroom, with three residential duplex units above, two x two bedroom apartments and one three bedroom apartment.
Retail Shops
The three shops consists of: 320.34 square meters/3448.1 square feet.
The residential properties together consist of: 218.64 square meters (72.88 each)/2353.4 square feet (784.47 each) This includes one three bedroom property and two x two bedroom properties, all are duplex apartments.
Opportunity
There is an opportunity to convert the two bedroom apartments into three bedroom apartments, furthermore there is an opportunity ( subject to planning ) to build out to the rear of the building to add a further three one bedroom apartments.
Projected income
£52,000 per annum for the three retail units
£54,000 per annum for the three apartments once converted into three bedroom apartments, which the current owners have stated is easily achievable.
Subject to planning a further three one bedroom apartments could be built out at the rear with a projected income of £33,300 per annum or £11,100 per annum for each one bedroom apartment.
Total Projected Income : £139,300 per annum
Empire Parade is directly located on Great Cambridge road and surrounded by several shops. There are also great connections by bus which will take you to the nearest overground stations
Viewing: Strictly by prior arrangement with sole Agents Next Property Commercial: Sean Kalsi : 0207 118 0000/sean.kalsi@nextpropertycommercial.co.uk
NoticePlease note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.
Image of house front