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Colindeep Lane, London NW9

A FREEHOLD CONSENTED ROOFTOP DEVELOPMENT, GROUND RENT INVESTMENT & GARAGE BLOCK WITH SIGNIFICANT DEVELOPMENT POTENTIAL
For sale
  • Located less than half a mile (8 min walk) from Colindale Underground Station (Northern Line).
  • An existing block of nine flats all sold on long leases producing a ground rent income of £195pa.
  • Prior Approval was granted by Barnet Council (ref: 20/4801/PNV) for a two storey upward extension to create seven flats.
  • The proposed scheme comprises 5 x 1 bed and 2 x 2 bed with a total proposed NIA of 3,165 sq ft.
  • A second prior approval application is pending and due imminently for a two storey upward extension to create nine flats.
  • This second scheme would comprise 6 x studios and 3 x 1 bed with a total proposed NIA of 3,079 sq ft.
  • At the rear of the site are nine lock up garages and a small storage unit which are let on licences and produce £11,040pa.
  • The garages offer significant redevelopment potential and could become a block of flats, row of townhouses or other uses, subject to obtaining the necessary consents.
  • Freehold.
  • Price - £950,000 (Nine Hundred & Fifty Thousand Pounds) subject to contract.
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