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Impulse Motors Elmgrove Rd 23,012 sq ft Retail Property Harrow HA1 2ED £2,500,000 (£108.64/sq ft) 6.80% Net Initial Yield
Investment Highlights
- Approximately 0.76 acres site comprising a 2 storey detached warehouse.
- Potential for redevelopment to various alternative uses, STC.
- Situated approximately 0.95 km (0.7 miles) South of Harrow & Wealdstone.
- Guide Price: Offers in Excess of £2,800,000 STC.
- Currently generating £168,000 per annum on a 5-year lease commenced in May 2024.
- The existing warehouse extends to 2,138 sq m (23,012 sq ft) GIA.
- 1.7 km (1.1 miles) North East of Harrow on the Hill Station.
- The opportunity is being sold freehold, subject to the existing lease.
Executive Summary
The property which extends to 0.31 hectare (0.76 acres) falls within the jurisdiction of the London Borough of Harrow and is situated at the rear of a cul-de-sac towards the south of Elmgrove Road. The site, previously a Royal Mail delivery office, comprises a 2 storey detached warehouse leased to a Car Mechanics and MOT Centre on a 5-years term with no breaks which commenced on 20th May 2024 and generates £168,000 per annum.
The site is located on Elmgrove Road, Harrow which falls within the London Borough of Harrow. The property is well located to public transport. Harrow & Wealdstone Station is situated 0.95 km (0.7 miles) North of the site and provides direct access to a number of Central London locations including Paddington (28 minutes), Oxford Circus (36 minutes), and London Waterloo (44 minutes) via the Bakerloo Line (Source: CityMapper). Harrow & Wealdstone is also serviced by the Overground Line, Southern Railway, and the West Midlands Railway providing routes to several other UK destinations such as Watford, Croydon, and Milton Keynes. Harrow on the Hill Station is situated 1.7 km (1.1 miles) South of the site. Elmgrove Road offers significant connectivity benefits by providing convenient access to major arterial routes such as the M1 (5.2 miles) and A41 (4.3 miles). Elmgrove Road is within close proximity to both Station Road, and the town centre which hosts an abundance of shops, supermarkets, and restaurants. Notable retailers amongst others include Tesco Superstore, Pret A Manger, and Nandos. The site also benefits from a number of natural open greenspace with Kenton Recreation Ground, Harrow Recreation Ground, and Northwick Park all located within 1.5 miles of the property.
The site is located on Elmgrove Road, Harrow which falls within the London Borough of Harrow. The property is well located to public transport. Harrow & Wealdstone Station is situated 0.95 km (0.7 miles) North of the site and provides direct access to a number of Central London locations including Paddington (28 minutes), Oxford Circus (36 minutes), and London Waterloo (44 minutes) via the Bakerloo Line (Source: CityMapper). Harrow & Wealdstone is also serviced by the Overground Line, Southern Railway, and the West Midlands Railway providing routes to several other UK destinations such as Watford, Croydon, and Milton Keynes. Harrow on the Hill Station is situated 1.7 km (1.1 miles) South of the site. Elmgrove Road offers significant connectivity benefits by providing convenient access to major arterial routes such as the M1 (5.2 miles) and A41 (4.3 miles). Elmgrove Road is within close proximity to both Station Road, and the town centre which hosts an abundance of shops, supermarkets, and restaurants. Notable retailers amongst others include Tesco Superstore, Pret A Manger, and Nandos. The site also benefits from a number of natural open greenspace with Kenton Recreation Ground, Harrow Recreation Ground, and Northwick Park all located within 1.5 miles of the property.
Property Facts Sale Pending
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Tenure
Freehold
Property Subtype
Vehicle Repair Garage
Property Size
23,012 sq ft
Costar Property Class
B
Year Built
1890
Price
£2,500,000
Price per sq ft
£108.64
Yield
6.80%
NOI
£170,000
Tenancy
Single
Number of Floors
2
Plot ratio
0.70
Total Plot Size
0.76 ac
Amenities
- Security System
- Roller Shutters
- Storage Space
- Smoke Detector
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Impulse Motors | Elmgrove Rd
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