HA7 425 & 427 Honeypot Lane, Stanmore

Freehold Shop & Residential Investment

The Premises comprise a Ground Floor Shop trading as a Funeral Parlour with a large single storey rear extension used for storage purposes and having rear vehicle access via a large open communal yard area at the rear. The shop is let on a Lease dated the 17th March 2014 on a Full Repairing & Insuring basis, for a term of 16 years from the 17th March 2014 with 4 yearly Rent Reviews, with a mutual Tenants & Landlords Break Clause every 4 years with 6 months prior notice being given of the same, at a current passing rent of £23,000 per annum exclusive agreed at the last rent review as of the 17th March 2022.

The self-contained three bedroom residential flat above the shop with access only from the rear shared yard area, comprises; First Floor: Two Bedrooms and a Kitchen Second Floor: Lounge, one Bedroom and WC/Washroom with Shower. The Flat is let on an Assured Shorthold (AST) Tenancy Agreement for a term of 12 months from the 14th July 2024 at a rent of £2,200 per month (£26,400 per annum) with the Tenants having given the Landlord's a £2,500 Deposit.

The Total Rental Income for the entire property is £49,400 per annum.

The property is situated at the southern end of Honeypot Lane contained amongst a parade of terraced shops in a secondary trading location, being on the western side of the dual carriageway thoroughfare close to the Queensbury round about. Queensbury (Jubilee Line) Underground Station is located close by.