Commercial property for sale in Viva Village Building, Ealing Road, Alperton, Wembley, Greater London HA0

A large ground floor shop with upper floors suitable for redevelopment.

Location

Ealing Road is a vibrant shopping area which is renowned for specialist Asian goods including high-end jewelry stores, clothes boutiques and housewares. The area is also a destination for Indian restaurants and street food. 192 Ealing Road enjoys a prime pitch on the corner of Bowrons Avenue and alongside Punjab Bank and Fudco and opposite vb & Sons supermarket.

Terms

The property is for sale freehold with the benefit of the existing tenants and income. Offers in excess of £3,050,000 (Three Million and
Fifty Thousand Pounds) reflecting a gross yield of 5.75% before allowing for standard purchasing costs.

Planning

Planning consent was granted on 11/06/20 for a first floor extension and loft conversion to provide 4 new flats consisting of 1 x studio, 1 x 1 bedroom and 2 x 2 bedroom flats. The planning consent lapsed in June 2023. Planning reference 19/1099. Floor plans and decision notice available upon request.

Viewing

Viewing is by appointment only to be arranged in prior advance via the owners selling agents Chamberlain Commercial Contact Tony Chamberlain

VAT

The property is not elected for VAT.

Energy Rating

Energy Rating C.

Rental And Income

The ground floor shop is occupied by Viva Group Ltd trading as Viva Village. The lease was for a term of 7 years which expired on 31/5/23. The tenant is currently holding over paying a rent of £149,000 per annum. The lease was outside of the security provisions of the Landlord & Tenant Act 1954. The shop has been sub-divided into 14 kiosk style units, which are sub-let and fully occupied on short term agreements.
The flat is let to a single tenant on an Assured Shorthold Tenancy Agreement paying a rent of £26,400 (£2,200 pcm).
The total rental income is £175,400 per annum.