491A High Road Rd 850 sq ft Retail Property London N17 6QA £695,000 (£817.65/sq ft) 4.32% Net Initial Yield

Investment Consideration:
Gross Initial Yield: 4.32%
Rental Income: £30,000 p.a.
VAT is NOT applicable to this property
Comprises ground floor retail shop with air rights above
Planning approved in June 2024 for erection of first and second floor extension to provide 2 x 1-bed self-contained flats
Located next to Bruce Grove Overground station with nearby occupiers including Nationwide, Asda, Santander, McDonalds and Halifax, amongst others
Property Description:
Comprises mid-terrace ground floor shop t/a curtain retailer, providing the following accommodation and dimensions:
Ground Floor: Shop 79 sq m (850 sq ft)
Open plan retail, Storage, WC
Tenancy:
The property is at present let to an Individual for a term of 7 Years from June 2025 at a current rent of £30,000 per annum and the lease contains full repairing and insuring covenants.
Development Opportunity:
Planning approved in June 2024 for erection of first and second floor extension to provide 2 x 1-bed self-contained flats, accessed from the main high street by its own private new entrance doorway, providing the following accommodation and dimensions:
First Floor
Flat 1: 51 sq m (548 sq ft)
Open plan kitchen/living room, bedroom, bathroom
Second Floor
Flat 2: 49 sq m (527 sq ft)
Open plan kitchen/living room, bedroom, bathroom
For more information please refer to planning application HGY/2024/1087 on Haringey Planning Portal -
Location:
Bruce Grove is a ward in Tottenham, enclosed by Lordship Recreation Ground, Lordship Lane, Philip Lane, and the High Road. Tottenham is a sprawling, up-and-coming area known for the huge Tottenham Hotspur Stadium, opened in 2019 and home to the soccer team of the same name. Local shops, global eateries, fast-food joints, and cafes line the busy High Road, and Bruce Castle Museum has displays on local history in a 16th-century manor house set in parkland. The property is located next to Bruce Grove Overground Station which provides direct service to Liverpool Street Station. Occupiers nearby including Nationwide, Asda, Santander, Holland & Barrett, McDonalds and Halifax, amongst others.