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Land for sale
High Road,
East Finchley, N2
£1,150,000
High Road,
East Finchley, N2
£1,150,000
Our Summary
- There is potential for the tenants to operate with a smaller footprint, so the post-development space could also be a viable option
- Residential Units:The first floor is occupied by a large one-bedroom flat which is currently vacant and in need of modernisation, extending to approximately 720 sqft (NIA)
- Planning OptionsOption 1:Planning was submitted on 13th May 2025 (Ref: 25/2002/FUL) for the demolition of the rear storage building, rear steps, and landing
- Option 2:Planning was approved subject to signing the S106 agreement on 4th December 2023 (Ref: 23/1660/FUL) for conversion into 5 self-contained flats, including lower ground and ground floor rear extensions, following demolition of the existing rear storage building and rear access staircase, as well as first and second floor rear extensions
- Development Opportunity
- One active planning permission & one ammendment - verdict expected imminently
- Planning permission for 3 residential units - (Ref: 25/2002/FUL)
- Planning permission for 6 residential units - (23/1660/FUL)
Description
This property is a rare opportunity to acquire an unbroken freehold on a busy high street in East Finchley, with a huge value add upside. The commercial unit on the basement and ground floor is currently underlet, generating £17,500 per annum, and the sellers are negotiating with the tenants to formalize a long-term agreement. The residential units on the first and second floors are a one-bedroom flat and a two-bedroom flat, respectively, with the potential for the tenant to operate with a smaller footprint. Planning options are available, including a proposal to add three additional units through excavation, rear extension, and roof extension, or a previously approved plan to convert the property into five self-contained flats. The property is conveniently located near East Finchley Underground Station and offers excellent links to the West End.