Calling for Bids - Midday, Monday 22nd May 2023:
256 York Way Bid Instructions
- A rare opportunity to acquire an income producing residential investment opportunity in Kings Cross.
- Ideally located 0.6 miles from Caledonian Road Underground Station (Piccadilly Line), 0.6 miles from Camden Road Station (Overground) and 0.8 miles from King’s Cross St. Pancras Station.
- The property is arranged over basement, ground, first and second floors and comprises 21 rooms with various shared facilities.
- GIA – 7,382 sq ft.
- Total current passing rent of £207,700 per annum.
- Open market Estimated Rental Value is approximately £315,000 per annum.
- First time on the market in over 20 years.
- The building offers several value-add angles by way of roof extensions (STPP) and internal refurbishment/reconfiguration.
- Freehold.
- Guide Price £2,500,000 (Two Million, Five Hundred Thousand Pounds), subject to contract. This reflects a gross yield of 8.31% and equating to a low capital value of £338 psf.
