106 A&B Kilburn High Road, London W6
The Brief
Coming out of pandemic restrictions, a client was seeking to diversify their portfolio and we were given the remit of sourcing retail units with residential above. Our advice was to tread cautiously regarding high street retail, but this was interesting in so far as the retailers are ingrained with the local community rather than national retailers that one sees in every high street. This combined with some potential to add value in the upper residential flats meant it looked an attractive asset.
The Property
The property provides in excess of 6,500 sq ft of combined commercial and residential space. It comprises a mid-terraced, four storey building of traditional load bearing brick construction, typical of the architecture found throughout the area and has extensive frontage onto Kilburn High Road.
The Deal
The rents in the commercial space had been recently re-based so we knew they would be solid and reliable for the foreseeable future. The flats were fine, but all 6 have the potential to be refurbished and the rents to be pushed on. The lay-out of the building allows the client to refurbish the flat on a one-by-one basis and thus take advantage of the gentrification of the area over the mid-term. We were ablet to secure at an attractive price that fits in with the client’s 5-year business plan.
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