142-144 Kenton Road, Kenton, Middlesex

Description

Well located freehold retail and residential investment comprising a double-fronted shop with eight flats above and a rear car park/service yard. Total accommodation approximately 741.1 sqm (7,977 sqft). Gross initial yield stated as 9.7%. VAT is not applicable.

Accommodation

Double-fronted shop with eight flats above; total accommodation approximately 741.1 sqm (7,977 sqft); rear car park and service yard.

Location

Situated in the heart of Kenton on the south side of Kenton Road (A4006), close to its junction with Carlton Avenue. Approximately 140 metres from Kenton Underground and Rail Station, providing Bakerloo line and London Overground services. Kenton is approximately 10 miles north-west of central London, 6 miles south-east of Watford and 3 miles north-west of Wembley. Close to the A40, A404 and M1 Motorway. Nearby occupiers include Premier Inn, Sainsburys, Coral and a wide range of local businesses.

Tenure / Property Information

Investment Analysis

The guide is £1.8m–£1.9m for a freehold mixed-use asset comprising a double-fronted shop, eight flats and rear car park/service yard. The supplied sold comparables on Kenton Road are not sufficiently specific in size, accommodation, tenure/use or income to support a reliable market valuation. The auctioneer states a gross initial yield of 9.7%, but no passing rent or rent calculation is supplied, so the yield cannot be independently verified.

Investment Snapshot

Strategy Recommendation

Consider only as a longer-term mixed-use income investment, subject to verification of the rent roll, 2025 rent review, lease, flat occupancy, title, condition and all auction costs. Do not bid solely on the stated 9.7% yield.

Works Required

No specific refurbishment works are evidenced. Undertake inspection and obtain information on the condition, statutory compliance, services, flats, shop and rear yard before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis is unsupported because no refurbishment budget, passing income, finance assumptions or evidence-supported GDV is provided. The freehold structure and eight flats may offer potential, but occupancy, legal configuration, valuation and refinanceability require verification.

Buy-to-Let Analysis

Potentially suitable as an income investment, with the shop let to Pegasus Kitchens and Bathrooms Ltd until 2030. However, the passing rent, flat rents, occupancy, lease terms, repairing obligations and outstanding 2025 rent review outcome are not supplied. A property-level BTL yield cannot therefore be calculated; the 9.7% figure is only the stated gross initial yield.

Flip Analysis

A flip appraisal cannot be established. No evidence-supported GDV, refurbishment cost, selling allowance or detailed condition information is supplied, and the available comparables are not sufficiently comparable to the whole mixed-use asset.

Investor Risks & Due Diligence

• Shop lease expires in 2030 and the 2025 rent review is outstanding.

• Passing shop rent and the financial effect of the outstanding rent review are not supplied.

• Occupancy and rental status of the eight flats are not supplied.

• No EPC, condition, statutory compliance or services information is provided.

• Seller and third-party additional charges may apply, but amounts are unspecified.

• The stated 9.7% gross initial yield cannot be independently verified from the supplied evidence.

• The supplied sold comparables are not sufficiently specific to value the entire mixed-use investment.

Recommendation

Consider only as a longer-term mixed-use income investment, subject to verification of the rent roll, 2025 rent review, lease, flat occupancy, title, condition and all auction costs. Do not bid solely on the stated 9.7% yield.

Strategy Rating

Analysis Confidence

The asset description, tenure, shop lease expiry, guide range, stated yield and broad location evidence are supplied, but passing rent, flat income, occupancy, condition, costs, EPC and sufficiently comparable valuation evidence are missing.