153 High Rd 4,104 sq ft Retail Property London NW10 2SG £450,000 (£109.65/sq ft) 5.48% Net Initial Yield

Investment Consideration:
Gross Initial Yield: 5.48%
Rental Income: £24,680 p.a.
VAT is NOT applicable to this property
Comprises corner ground floor shop and 3 residential flats above (all sold-off)
Valuable reversion of 3 residential flats in 45 years
Retail shop newly refurbished and benefits from triple glass frontage and large basement
Situated within 10 min walk from Willesden Green Underground station, with occupiers nearby include restaurants, pharmacy, café`s, beauty salon, convenience store and more.
Property Description:
Comprises corner ground floor shop with ancillary accommodation at basement. The shop has single frontage on High Road and double frontage on Gowan Road, providing great retail exposure. The property includes 3 residential flats above, which have been sold-off on long leaseholds, providing the following accommodation and dimensions:
Ground Floor Shop: 67 sq m (721 sq ft)
Open plan retail, storage, wc
Basement: 46 sq m (495 sq ft)
open plan storage
First/Second/Third Floor: 3 residential flats (sold-off)
Total GIA: 113 sq m (1,216 sq ft)
Tenancy:
The retail shop is at present let to an Individual for a term of 10 Years from 14th August 2025 at a current rent of £24,500 p.a. and the lease contains full repairing and insuring covenants. Rent review in August 2030 linked to RPI. Tenant option to determine in August 2030 with minimum 6 months notice. Deposit held of £6,125.
Flats 1,2,3 have been sold-off on long leaseholds for a term of 99 Years from 29th September 1970 at a total ground rent of £180 p.a. (£60 each)
Fixed increase to £90 p.a. each in September 2037 until the remainder of the term. Reversion 2070.