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Floorplans (
MapGuide price
£1,150,000Plot for sale
High Road, London, N2
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Plot
2560
Key information
Tenure: Freehold
Council tax: Ask agent
Broadband: Super-fast 171Mbps *
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Features and description
- Freehold
- Development Opportunity
- Total current GIA 2,560 Sq.Ft (237.8 Sq.M)
- One active planning permission & one ammendment - verdict expected imminently
- Planning permission for 5 residential units - (23/1660/FUL)
- Planning permission for 5 residential units - (25/2002/FUL)
- CIL payments due : circa £52,453
An exciting opportunity to acquire a rarely available unbroken freehold on a busy local high street, offering clear value-add potential through planning and asset management.
Commercial Unit:
The commercial unit occupies the basement and ground floor and is currently underlet, generating £17,500 per annum on a monthly licence. The long-standing tenants have been in occupation for over 15 years, and the licence has recently been amended so they will continue paying the same annual rent while operating from a smaller presence, as detailed in the floorplans. This secures uninterrupted income and ensures the proposed development can proceed without affecting the commercial arrangement.
Residential Units:
The first floor contains a large one-bedroom flat, currently vacant and requiring modernisation, extending to approximately 720 sq ft (NIA).
The second floor comprises a further large one-bedroom flat of approximately 652 sq ft (NIA), let to an assured tenant currently paying £1,250 pcm. The rent review has now taken place, and a Form 4 application has been submitted to increase the rent to £1,450 pcm, effective from 1st January 2026.
The tenant inherited possession from their mother, who previously held the property under a regulated tenancy.
Planning Options
Option 1:
Planning was submitted on 13th May 2025 (Ref: 25/2002/FUL) for the demolition of the rear storage building, rear steps, and landing. This includes construction of a side and rear extension to the existing rear outrigger, excavation of the basement below, and a mansard roof extension with a front terrace to create an additional residential unit on the third floor. Associated cycle storage and amenity space are included.
This option would provide 3 additional units through excavation, rear extension, and roof extension, totaling approximately 1,480 sqft (NIA). It carries a smaller CIL payment of approximately £48k.
Option 2:
Planning was approved subject to signing the S106 agreement on 4th December 2023 (Ref: 23/1660/FUL) for conversion into 5 self-contained flats, including lower ground and ground floor rear extensions, following demolition of the existing rear storage building and rear access staircase, as well as first and second floor rear extensions. The proposal also includes alterations and an extension to the roof to create an additional storey on the third floor, while retaining the existing ground-floor shop and basement storage. This option would provide 3 additional units (including basement excavation, ground floor rear extension, first floor split and rear extension, and roof space extension), resulting in a total of 5 self-contained apartments with approximately 3,012 sqft (NIA). Commercial use of approximately 844 sqft (GIA) on the ground and basement floors would be retained. CIL is expected to be around £52k, with confirmation pending.
Location:
The building is conveniently located within the bustling and vibrant East Finchley High Road, five minutes walk to the East Finchley Underground Station (Northern Line). Located in Zone 3 close to the Bishops Avenue, offering quick and easy access to the West End. Numerous local bus services together with excellent links by road including convenient access to the A406 North Circular and M1, both less than two miles away.
On the High Road there is a multitude of local and national retailers including Sainsbury’s Local, Cafe Nero, Natwest Bank, Budgens and Iceland alongside a mixture of independent boutiques, cafes and restaurants.
Commercial Unit:
The commercial unit occupies the basement and ground floor and is currently underlet, generating £17,500 per annum on a monthly licence. The long-standing tenants have been in occupation for over 15 years, and the licence has recently been amended so they will continue paying the same annual rent while operating from a smaller presence, as detailed in the floorplans. This secures uninterrupted income and ensures the proposed development can proceed without affecting the commercial arrangement.
Residential Units:
The first floor contains a large one-bedroom flat, currently vacant and requiring modernisation, extending to approximately 720 sq ft (NIA).
The second floor comprises a further large one-bedroom flat of approximately 652 sq ft (NIA), let to an assured tenant currently paying £1,250 pcm. The rent review has now taken place, and a Form 4 application has been submitted to increase the rent to £1,450 pcm, effective from 1st January 2026.
The tenant inherited possession from their mother, who previously held the property under a regulated tenancy.
Planning Options
Option 1:
Planning was submitted on 13th May 2025 (Ref: 25/2002/FUL) for the demolition of the rear storage building, rear steps, and landing. This includes construction of a side and rear extension to the existing rear outrigger, excavation of the basement below, and a mansard roof extension with a front terrace to create an additional residential unit on the third floor. Associated cycle storage and amenity space are included.
This option would provide 3 additional units through excavation, rear extension, and roof extension, totaling approximately 1,480 sqft (NIA). It carries a smaller CIL payment of approximately £48k.
Option 2:
Planning was approved subject to signing the S106 agreement on 4th December 2023 (Ref: 23/1660/FUL) for conversion into 5 self-contained flats, including lower ground and ground floor rear extensions, following demolition of the existing rear storage building and rear access staircase, as well as first and second floor rear extensions. The proposal also includes alterations and an extension to the roof to create an additional storey on the third floor, while retaining the existing ground-floor shop and basement storage. This option would provide 3 additional units (including basement excavation, ground floor rear extension, first floor split and rear extension, and roof space extension), resulting in a total of 5 self-contained apartments with approximately 3,012 sqft (NIA). Commercial use of approximately 844 sqft (GIA) on the ground and basement floors would be retained. CIL is expected to be around £52k, with confirmation pending.
Location:
The building is conveniently located within the bustling and vibrant East Finchley High Road, five minutes walk to the East Finchley Underground Station (Northern Line). Located in Zone 3 close to the Bishops Avenue, offering quick and easy access to the West End. Numerous local bus services together with excellent links by road including convenient access to the A406 North Circular and M1, both less than two miles away.
On the High Road there is a multitude of local and national retailers including Sainsbury’s Local, Cafe Nero, Natwest Bank, Budgens and Iceland alongside a mixture of independent boutiques, cafes and restaurants.
Property information from this agent
About this agent
Chestertons - New Homes
5th Floor East, The Lantern Building, 75 Hampstead Road
London
NW1 2PL
020 7768 0085Chestertons has over 30 offices spanning across London, our highly knowledgeable and experienced sales and lettings teams provide maximum market exposure for every property. Whether you are looking to buy, sell or rent Chestertons property experts are here to help. • We have 500 of some of the best trained and most experienced property specialists in the country, with our local teams often living in the area that they work in so have a genuine knowledge and expertise of their patch. • Established long-standing relationships with potential buyers across London and in key global markets. Chestertons has access to the best buyers and has developed unique processes to expedite the conveyancing process and ensure a smooth selling process • Dedicated corporate department that helps place tenants on behalf of some of the world's largest companies. • Chestertons has one of the largest networks of offices in central London. This gives us access to a large database of contacts from across the capital, enabling us to better match properties to the right people.