TypeRetail Investments · Assured Shorthold Tenancies · Development - Residential
HA0 Viva Village Building, 192 Ealing Road, Wembley
TenureFor sale or rent
Specification
- Building size
- Building size 3,905 sqft
- Property type
- Property type Retail Investments · Assured Shorthold Tenancies · Development - Residential
- Tenure
- Tenure For sale or rent
Description
The existing property comprises of a large ground floor retail shop with residential upper floors suitable for redevelopment.
The ground floor shop is 2,475 sq ft (229.94 sq m) sub-divided into 14 retail kiosk units.
The upper floor flat is 1,430 sq ft (132.85 sq m) arranged over first and second floor loft space with 8 rooms, 2 bathrooms and a kitchen.
A rare opportunity to purchase a sizeable freehold mixed use property in a prime location on Ealing Road, Wembley.
The property has considerable scope for adding value through development or active asset management.
The ground floor is currently occupied by Viva Group Ltd holding over on a lease which expired on 31st May 2023, at a rent of £149,000 per annum. The lease is outside the Landlord & Tenant Act and Viva Group Ltd would like to renew the lease.
The upper parts consists of a large single flat with 8 rooms, 2 bathrooms and a kitchen, which is currently let on AST producing £26,400 per annum on a single AST.
There is a lapsed planning consent to extend the firsts floor and loft space to provide 4 new flats.
Location
Ealing Road is a vibrant shopping area which is renowned for specialist Asian goods including high-end jewellery stores, clothes boutiques and housewares. The area is also a destination for Indian restaurants and street food.
The property is located on a prime corner position on Ealing Road and Bowrons Avenue alongside Punjab Bank, Fudco Specialist Foods and opposite VB & Sons supermarket.
There are excellent accessible travel connections including Wembley Central Station (Bakerloo Line and Mainline) and Alperton Station (Piccadilly Line), both with fast connections to Central London (25 minutes). Ealing Road is also serviced by a number of local bus routes Heathrow Airport is located 11 miles away and the main arterial roads (A40 and A406 North Circular Road) are within easy access. Wembley Stadium and Arena are located 2 miles away.
Amenities
STRONG RENTAL INCOME
ESTABLISHED TENANT
PREVIOUS PLANNING CONSENT