53-59 Woodhouse Rd 1,378 sq ft 100% Let Retail Property London N12 9ET £1,600,000 (£1,161.10/sq ft)

2 adjacent freehold buildings available together or individually. The ground floor shops are let, the 2 floor upper parts above 57-59 Woodhouse Rd have been converted to a 3 bedroom flat in the last 3 years and is currently let to Barnet Council and used as a 4 bedroom unit incorporating the lounge. There is a lapsed planning consent for the upper part to create 3 separate 1 bedroom flats incorporating the loft space. Upper part of 53-55 Woodhouse Road is arranged over 2 floors and is in need of refurbishment. No planning has been applied for but it is thought that a similar consent of 3 separate units could be obtained. The adjacent property (above supermarket) has been developed into the roof space and a precedent has been set for a 3rd floor.
TENANCIES
53-55 Woodhouse Road
Ground floor shop and forecourt let and trading as Signstar (Sign Shop) on a 10 year lease from 2022 with approx 7 years remaining at £18,000 pa with 5 yearly rent reviews.
*NB This tenant has been in occupation for 10 years previous to this current lease.
Upper Part
Vacant and in need of refurbishment. The flat is entered from the rear of the property.
57-59 Woodhouse Road
Ground floor shop and forecourt let and trading as Figaro Barbers on a 10 year lease from July 2025 at £19,000 pa with 5 yearly rent reviews. *NB This tenant has been in occupation for 10 years previous to this current lease.
Upper Part
Comprising a 3 bedroom flat plus lounge, kitchen and bathroom and let to Barnet Homes (part of Barnet Council) on a 5 year term from March 2023 at £1,684 pcm (£20,208 pa). *NB the lounge is also used as a bedroom so the property is let as a 4 bedrooms. The flat is entered from the rear of the property. The flat is underlet in the current market as the vendor received a £25,000 grant from Barnet Council towards refurbishment.