2 bed flat for sale

Westbury Avenue, Turnpike Lane, London N22

Property Description

This well-positioned property comprises a ground-floor commercial unit and an upper residential flat, offering a stable and growing income stream.

Ground Floor Commercial Unit

• Let on a 10-year lease from 23rd June 2017, with rent reviews every 3 years (next due June 2026)
• Current rent: £16,600 per annum
• New lease proposed: The current tenant is marketing the business for sale with an option of a new 10-year lease at £21,000 per annum, with 3-yearly rent reviews
• The tenant also rents the rear of the premises, generating additional sub-income (further details available upon request)

Residential Flat

• The upper part of the building comprises a self-contained flat 2 Bedroom flat.
• Further details available on request – currently forming part of the freehold and contributing to the overall value

Income & Yield Potential

• Potential Yield: Approx. 4.5% based on the proposed rent and income from the upstairs flat.
• Added benefit of additional income from rear rental, further enhancing return

Location Highlights

• Situated on Westbury Avenue, a busy thoroughfare between Turnpike Lane and Wood Green
• Excellent transport links: Just a short walk to Turnpike Lane Station (Piccadilly Line) and numerous bus routes
• Surrounded by local shops, cafés, schools, and parks

Key Features

• Mixed-use freehold investment
• Long-standing commercial tenant
• Rent review potential & proposed uplift to £21,000 p.a.
• Rear rental income opportunity
• Close to Turnpike Lane Station
• Ideal for investors seeking stable income with upside potential

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