No longer on the market
This property is no longer on the market
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Features and description
- The building can be sold by invidivual floors
- 36 two bedroom apartments and 4 one bedroom apartments
- 30 parking spaces
- Ideal invetment/development opportunity
- Walking distance of Potters Bar railway station.
Located in an excellent and highly sought after location in Potters Bar, Hertfordshire, 13 miles (21 km) north of central London. The Picture House is comprising of 40 fully let apartments on ASTs over three floors with a gross annual income of £820,000. Please contact us for further details.
EXECUTIVE SUMMARY
Located in an excellent and highly sought after location Potters Bar is a town in Hertfordshire, 13 miles (21 km) north of central London. In 2011, it had a population of 21,882.
There are two main streets in Potters Bar – Darkes Lane and the High Street, both offering an amazing number of shops, restaurants and amenities.
The town has always been favoured by commuters working in London as Darkes Lane is home to Potters Bar train station which offers frequent trains to London Kings Cross in 16 minutes and also Finsbury Park and Moorgate. Northbound, the service provides a route to Hatfield, Welwyn Garden City, Cambridge and Peterborough. Approximately 3 miles away is Cockfosters Underground station which is on the Piccadilly line.
The Picture House is within walking distance from Potters Bar railway station offering fast service into Central London/Kings Cross,
Comprising of 40 fully let apartments on three floors with a
gross annual income of £820,000.
The Commercial Ground Floor comprises two retail units;
the larger of the two is let to Dreams; an excellent covenant
who is currently paying £120,000 per annum.
And a vacant unit with an ERV of £65,000 per annum totalling £1,005 million per annum income.
Currently the vendors are in the process of applying for
planning permission for two additional floors, one to be added on the roof of the building and which would comprise of 7 penthouse apartments with an approximate GDV of £5.2 million.
The other floor within the current building would be created to provide a further 16 apartments with a GDV of approximately £6.8 million.
There is also an attractive asset management opportunity in
the future on the ground floor should change of use be applied for.
This would create a further 14 apartments with a GDV of
approximately £6 million.
Please contact us for any further information you may require.
EXECUTIVE SUMMARY
Located in an excellent and highly sought after location Potters Bar is a town in Hertfordshire, 13 miles (21 km) north of central London. In 2011, it had a population of 21,882.
There are two main streets in Potters Bar – Darkes Lane and the High Street, both offering an amazing number of shops, restaurants and amenities.
The town has always been favoured by commuters working in London as Darkes Lane is home to Potters Bar train station which offers frequent trains to London Kings Cross in 16 minutes and also Finsbury Park and Moorgate. Northbound, the service provides a route to Hatfield, Welwyn Garden City, Cambridge and Peterborough. Approximately 3 miles away is Cockfosters Underground station which is on the Piccadilly line.
The Picture House is within walking distance from Potters Bar railway station offering fast service into Central London/Kings Cross,
Comprising of 40 fully let apartments on three floors with a
gross annual income of £820,000.
The Commercial Ground Floor comprises two retail units;
the larger of the two is let to Dreams; an excellent covenant
who is currently paying £120,000 per annum.
And a vacant unit with an ERV of £65,000 per annum totalling £1,005 million per annum income.
Currently the vendors are in the process of applying for
planning permission for two additional floors, one to be added on the roof of the building and which would comprise of 7 penthouse apartments with an approximate GDV of £5.2 million.
The other floor within the current building would be created to provide a further 16 apartments with a GDV of approximately £6.8 million.
There is also an attractive asset management opportunity in
the future on the ground floor should change of use be applied for.
This would create a further 14 apartments with a GDV of
approximately £6 million.
Please contact us for any further information you may require.
Property information from this agent
Area statistics
Crime score
Low crime
3/10
About this agent
Having spent his entire career in estate agency in the Potters Bar/Brookmans Park areas Duncan always had an aspiration to lead his own business. His experience, knowledge, ambition and motivation combined with different approaches and techniques when changing markets demand makes him perfectly placed to embrace the challenging demands of estate agency today. His commitment to personal service is demonstrated in the very ethos of the company which can be verified by our google reviews. Duncan confidently balances his skills across the whole of the property sector which incorporates sales, lettings and commercial; enjoying the challenging and diverse environment it offers. Having built a very successful sales team in the business; going from strength to strength each year resulted in Duncan Perry Estate Agents proudly being listed as the No 1 selling agent in the area. Duncan Perry are proud to be one of very few agents who can supply a complete service in all areas of the business. Whether it’s Sales, Lettings or Commercial we look forward to connecting with you.