4 & 4a and 5 & 5a The Broadway Forty Lane Wembley London HA9 8JT

4 & 4a and 5 & 5a The Broadway
Forty Lane
Wembley
London
HA9 8JT

Freehold Retail Investment with Significant Residential Development Opportunity Above

Comprises two shops with vacant self-contained residential accommodation on the first and second floors
Significant refurbishment or redevelopment opportunity on upper parts
Shop leases expire in July 2029 and March 2031 (by way of recently extended lease) - no breaks in either lease
VAT-free London property with significant asset management opportunities
Popular and vibrant North West London suburb

Lot
3
Auction
24th October 2019
Rent
£20,000 per Annum Exclusive
Status
Sold
Price
£750,000
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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Freehold Retail Investment with Significant Residential Development Opportunity Above

Comprises two shops with vacant self-contained residential accommodation on the first and second floors
Significant refurbishment or redevelopment opportunity on upper parts
Shop leases expire in July 2029 and March 2031 (by way of recently extended lease) - no breaks in either lease
VAT-free London property with significant asset management opportunities
Popular and vibrant North West London suburb

Lot 3
Auction 24th October 2019
Rent £20,000 per Annum Exclusive
Status Sold
Price £750,000
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 9 miles north-west of Central London
Roads: North Circular (A406), A40
Rail: N or th Wembley (Bakerloo and Overground Lines) Wembley Park (Jubilee Line); Preston Road (Metropolitan Line)
Air: London Heathrow

Situation

The property is located in Wembley, 9 miles north-west of Central London. The property is on a prominent corner position forming part of a parade, on the northern side of The Broadway, a small parade at the intersection of Preston Road and Forty Avenue (A4088). The property is equidistant between North Wembley and Wembley Park tube stations.

Tenure

Freehold.

Location

Miles: 9 miles north-west of Central London
Roads: North Circular (A406), A40
Rail: N or th Wembley (Bakerloo and Overground Lines) Wembley Park (Jubilee Line); Preston Road (Metropolitan Line)
Air: London Heathrow

Situation

Tenure

Freehold.

Description

The property comprises two ground floor shops, with residential accommodation on the first and second floors, separately accessed from the front. The upper parts are together arranged as 12 rooms, with six rooms on both the first and second floors and a WC/shower room on each floor. The first and second floors of the property have potential to be converted into two large maisonettes.

VAT

VAT is not applicable to this lot.

Planning

For further information contact Brent Council: w: www.brent.gov.uk/ t: 44 (0)20 8937 5210

EPC

Available from the legal pack at acuitus.co.uk

Description

VAT

VAT is not applicable to this lot.

Planning

For further information contact Brent Council: w: www.brent.gov.uk/ t: 44 (0)20 8937 5210

EPC

Available from the legal pack at acuitus.co.uk

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
4 The Broadway	Ground	Retail/Office	36.90 sq m	(397 sq ft)	GLOBAL IRONING LIMITED t/a Global Ironing	10 years from 25/07/2019 until 24/07/2029	£10,000 (1)	25/07/2024
4a The Broadway	First Second	Residential (3 rooms) Residential (3 rooms)	27.10 sq m 28.40 sq m	(292 sq ft) (306 sq ft)	VACANT (1)	-	-	-
5 The Broadway	Ground	Retail	35.80 sq m	(386 sq ft)	K. S. LIMBANI t/a Kutting Professionals	20 years from 25/03/2011 until 24/03/2031 (2)	£10,000	25/03/2021 25/03/2026
5a The Broadway	First Second	Residential (3 rooms) Residential (3 rooms)	24.23 sq m 27.71 sq m	(261 sq ft) (298 sq ft)	VACANT	-	-	-
Total			180.14 sq m	(1,940 sq ft)			£20,000

(1) The Landlord holds a 6 month rent deposit.
(2) 5 The Broadway was originally let for a term of 10 years, without breaks, from 25th March 2011, but by way of a reversionary lease dated 19th August 2019, the lease was extended for a further term of 10 years from 25/03/2021, thereby expiring on 24/03/2031. This lease is drawn outside the Security of Tenure provisions of the Landlord and Tenant Act 1954.