• The property has an apartment at ground floor level, which has been sold off and there are 6 studios across the first and second floors.
• Ideally located within 0.4 miles from Queens Park Underground Station (Bakerloo Line & Overground).
• GIA – 1,215 sq ft.
• Fully let producing a current passing rent of £76,340 per annum.
• Local agents have advised the Estimated Rental Value is in the region of £88,800 per annum.
• Approved Planning Permission from Westminster Council (23/04829/FULL) for loft conversion for the extension of 2nd floor front studio into duplex apartment, adding an additional 210 sq ft of useable floorspace plus eaves storage.
• The building is presented in good decorative order throughout.
• All units benefit from cooking facilities, two are fully-self contained and two benefit from an en-suite shower room.
• Valid HMO license and Certificate of Lawful Use in place.
• Freehold.
• Ground Floor flat sold off on a long lease.
• Offers In Excess Of £800,000 (Eight Hundred Thousand Pounds) subject to contract. This reflects a gross yield of 9.54%, reversionary to 11.10% against the ERV and a low capital value of £658 psf.
