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Windsor Street Uxbridge UB8

A part vacant commercial investment with significant reversionary potential and planning for a residential development
For sale
  • Superbly located in Uxbridge Town Centre just moments from Uxbridge Underground Station (Metropolitan & Piccadilly Lines).
  • The building comprises retail premises on the ground floor and vacant offices on the first and second floors.
  • The existing vacant offices total 3,728 sq ft and have been vacant for five years and therefore require modernisation.
  • The ground floor is let on a 15 year lease from 29 March 2018, thus having approximately 9 years remaining.
  • The passing rent is currently £25,000 pa with an outstanding rent review from March 2021 which we believe to be reversionary.
  • We believe once modernised the offices could fetch between £25.00 - £27.50 per sq ft which suggests an ERV of the upper parts alone in the region of £90,000 - £100,000 pa.
  • Two separate planning permissions have been granted by London Borough of Hillingdon for the conversion of the upper parts into either 3 or 4 flats as follows:
  • Ref: 48534/APP/2020/1401 2 x 1 bed and 1 x 2 bed with a total NIA of 2,324 sq ft plus atrium private gardens.
  • Ref: 48534/APP/2020/1353 4 x 1 bed with a total NIA of 2,221 sq ft plus atrium private gardens.
  • Residential values for newly developed flats are in the region of £600 - £650 per sq ft.
  • The building is Grade II listed with listed building consent all granted.
  • Freehold.
  • The property is elected for VAT.
  • Guide Price £1,050,000 (One Million and Fifty Thousand Pounds) subject to contract.
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