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
    24/Oct/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
Important Auction & Property Update
  • 4 & 4a  and 5 & 5a The Broadway<br>Forty Lane<br>Wembley<br>London<br>HA9 8JT
  • Expand
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  • Map

* More information on the term "price" can be found here

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.

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

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
4 The
Broadway
GroundRetail/Office36.90 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
GroundRetail35.80 sq m(386 sq ft)K. S. LIMBANI
t/a Kutting
Professionals
20 years from
25/03/2011 until
24/03/2031 (2)
£10,00025/03/2021
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.

Property Documents

  • Catalogue Page
    Updated Date
    02.10.19
    File Size
    886 KB
    View PDF
  • Site Plan
    Updated Date
    02.10.19
    File Size
    936 KB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Hamlins Roxburghe House273-287 Regent Street
London
W1B 2AD
Mark Hurst +44 (0)20 7355 6024mark.hurst@hamlins.com

Useful Links

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