Summary - 2 WELLINGTON TERRACE LONDON N8 0PX
1 bed 1 bath Retail Property (high street)
Freehold high-street building with prominent Turnpike Lane frontage
A prominent mixed-use freehold on Turnpike Lane offering immediate income and clear asset-management upside. The ground floor houses a long-standing commercial tenant operating as a takeaway with a fully equipped commercial kitchen; the busy parade and prominent frontage deliver strong passing footfall and excellent public transport links two minutes from the tube.
The upper floors comprise a four-room licensed HMO (license until 2029) currently offered with vacant possession. The accommodation is ripe for refurbishment: updating the rooms and communal areas could materially increase the rental income and overall capital value. Total internal area is approximately 2,116 sq ft, delivering flexible spatial potential across multiple storeys.
Important considerations: the commercial lease records 17 years unexpired from 2022 with four-yearly rent reviews. That remaining lease term may limit mortgage finance options — many lenders refuse lending on properties with similar lease lengths. The building requires renovation works to the residential areas and some general updating throughout.
Location strengths include dense local amenities, strong community support for high-street businesses, and immediate transport connections. Counterbalancing factors are a very high local crime rate and higher area deprivation indicators; these are material for operator risk and certain lettings. Offered at a guide price of £850,000, this is a value-led opportunity for an investor or owner-occupier able to manage refurbishment and lease-related finance constraints.
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