Devonshire Road, London, NW7

Very rare and sought after development opportunity in the heart of Mill Hill East.

Formerly known as and composed as two beautifully positioned and character detached bungalows in neighbours and adjacent to each other.

Lot Size – The first detached bungalow 77 consisting of five spacious double and single bedrooms has a considerable internal area of 137.6m2. The second detached bungalow known as 79 is consisted of 3 double beds and a total internal area of 79.5m2. Both with medium sized gardens and large private front yard driveways.

The total plot size is 806.2 m2 or 8,677 sq ft respectively see attached documents for more information.

Location – In the heart of Mill Hill, the two-character properties are among some of the most sought-after public amenities and transport links in North London as well as health clubs/restaurants/supermarkets/luxury parks etc. Private secondary schools such as Mill Hill School, as well private primary schools such as Goodwyn, St Pauls and public in close proximity. Waitrose 0.6 miles, Virgin Active club and The Laboratory Spa and health club only 0.7 miles and 1.5 miles.

Mill Hill East train station 7min (0.6 mi) walk with Mill Hill Broadway Thameslink only 15 min (1.8mi) walk away getting you to central London within 24min commute time. As well as three luxury and sought golf clubs in the area (Hendon Golf, 0.4mi, Finchley Golf, 0.9mi & Mill Hill Golf, 2.9mi)

Property Investment Potential – “Demolition of two existing bungalows and erection of 4no two storey plus room in roof space terraced dwellings. Associated onsite parking, amenity space, cycle store and refuse and recycling store”

Note: planning expired 2 years ago and will need reinstating, expected to be granted in 6-8 months after application resubmitted. Please click external link for more information.

Application Number: 18/6976/FUL (Under Barnet, London Council)
Property occupation – Currently let, tenants have been long standing for several years with clean rental records and reports. Between both properties a total annual rent achieved of £54,000 a year. Market value - £72,000 a year.

Future new build terrace rental value - £45,000 each annually (£180,000 annual return combining four investments fully let in todays market) or resale of £870k + each in todays market)

For any further questions please get in touch ! Thank you.