Car Park at Spring Villa Road, Edgware, Middlesex, HA8

The site comprises a 0.22 acre parcel of land, currently used as a surface car park and configured to provide 22 car parking spaces. It is predominantly tarmacadam covered and is secured by a metal mesh and timber fencing.

6 parking spaces are let via a single Licence to Price Mann Ltd on a rolling monthly basis. Rent is payable at £2,700 per quarter (£150 pcm per space).

The land is held freehold with registered title no. AGL240675.

Planning consent was granted 20 April 2021 for the development of a part 3/part 4 storey office building. The building would deliver circa. 5,500 sq ft of office accommodation (Net Internal Area), with a gross internal area (GIA) of 8,030 sq ft including ground floor undercroft car parking and entrance hall. Consent was granted under application ref number P/1701/20. The consent is expected to lapse after 3 years (19 April 2024).

Potential to let car parking spaces.
Potential to deliver development opportunities (subject to planning).

We are also marketing adjacent property Magnolia House, 11 Spring Villa Park. Offers to acquire both properties collectively will be considered.

The land is assumed to be opted for tax and it is assumed that any sale would be treated as a Transfer of Going Concern (TOGC). We are currently seeking confirmation of this from HMRC.

Location: ///vivid.member.work