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Block of flats
The Grove, Edgware HA8
£2,750,000
The Grove, Edgware HA8
£2,750,000
Our Summary
- A substantial freehold residential investment opportunity located in the heart of Edgware, comprising six self-contained flats, all currently let and producing a strong rental income
- 44 acres, the site also offers significant development potential at the rear (subject to necessary planning consents), making it ideal for investors or developers seeking a value-add opportunity
- • Development Potential: Rear land offers potential for further development (STPP)
- Development Potential
- • The site was previously granted planning consent under Ref: 17/1065/ful for demolition and erection of a new two-storey building with basement and loft rooms to create six flats
- • The rear section of the site offers scope for further development, subject to obtaining planning permission from the local authority
- Further development potential at the rear - subject to necessary consents
Description
This substantial freehold residential investment opportunity in Edgware comprises six self-contained flats, all currently let and producing a strong rental income of approximately £126,000 per annum. The property, built in 2019, is situated on a large plot of circa 0.44 acres and offers significant development potential at the rear, subject to necessary planning consents. The building benefits from modern construction and efficient EPC ratings, and is within walking distance to Edgware Underground Station. The property's rear section offers scope for further development, with an overage on any additional units that expires in 2031. This presents a value-add opportunity for investors or developers seeking to increase the property's potential.