Woodhouse Road, London N12

  Ref 024342    

Woodhouse Road, London N12

Ref 024342

  • £1,600,000  

    For Sale

    £1,600,000  

    For Sale

    • Description

    2 adjacent freehold buildings which are available together or individually. The ground floor shops are let as per the schedule below, the two floor upper parts above 57-59 Woodhouse Road have been converted to a 3 bedroom flat in the last three years and is currently let to Barnet Council and used as a 4 bedroom unit incorporating the lounge. There is a lapsed planning consent for the upper part to create 3 separate 1 bedroom flats incorporating the loft space. The upper part of 53-55 Woodhouse Road is arranged over 2 floors and is in need of refurbishment. No planning has been applied for but it is thought that a similar consent of 3 separate units could be obtained. The adjacent property (above supermarket) has been developed into the roof space and a precedent has been set for a 3rd floor.

    TENANCIES

    53-55 WOODHOUSE ROAD
    Ground floor shop and forecourt let and trading as Signstar (Sign Shop) on a 10 year lease from 2022 with approximately 7 years remaining at £18,000 pa with 5 yearly rent reviews.
    *NB This tenant has been in occupation for 10 years previous to this current lease.

    UPPER PART
    Vacant and in need of refurbishment. The flat is entered from the rear of the property.

    57-59 WOODHOUSE ROAD
    Ground floor shop and forecourt let and trading as Figaro Barbers on a 10 year lease from July 2025 at £19,000 pa with 5 yearly rent reviews. *NB This tenant has been in occupation for 10 years previous to this current lease.

    UPPER PART
    3 bedroom flat plus lounge, kitchen and bathroom and let to Barnet Homes (part of Barnet Council) on a 5 year term from March 2023 at £1,684 pcm (£20,208 pa). *NB the lounge is also used as a bedroom so the property is let as a 4 bedrooms. The flat is entered from the rear of the property. The flat is underlet in the current market as the vendor received a £25,000 grant from Barnet Council towards refurbishment.

    Gallery

    Areas

    53-55 Woodhouse Road 6.24 m wide x 8.89 m deep 55.47 sq m, Rear store 3.4 m wide x 4.90 m deep 16.66 sq m, Total area approx 72.13 sq m (776 sq ft) 1st and 2nd floor maisonette comprising 6 rooms — in need of refurbishment 57-59 Woodhouse Road Shop area 682 sq ft (53.37 sq m), Plus rear yard, 1st and 2nd floor maisonette comprising 6 rooms — fully refurbished & let as tenancy schedule overleaf.

    Terms

    The properties are available jointly at £1,600,000 for the freehold interest, subject to the current tenancies and also available individually with offers invited.

    Location

    Situated amongst a small parade where retailers include café, restaurant and supermarket amongst others. Woodhouse Road runs between Friern Barnet and Tally Ho Corner. The property is roughly equidistant from New Southgate Network Rail Station and Woodside Park and West Finchley Underground Stations (Northern Line Barnet Branch).

    Book a viewing

    For Sale

    £1,600,000