An opportunity to acquire a high yielding residential investment with asset management and break up potential.
The property is a mixed use building comprising 5 apartments and a commercial premises on the ground floor, which has been sold off on a long lease.
Located on Lea Bridge Road, the asset benefits from easy access to Walthamstow Central (Victoria Line & Overground) & Leyton Midland Road (Overground) stations, offering quick and easy access into Central London and the City.
The accommodation is accessed from an attractive residential street called Copeland Road and consists of 2 x 1 bed and 3 x 2 bedroom apartments, NIA 2491 sq ft.
All of the flats are let on AST’s producing £87,120 per annum.
The apartments are slightly underlet and the ERV at open market value is £93,960 per annum
Potential to generate additional revenue stream by way of leasing the advertising hoarding at the side of the building.
Freehold (subject to sold off long leasehold interest of ground floor commercial premises).
PROPOSAL
Offers in excess of £1,100,000 (One Million, One Hundred Thousand Pounds) subject to contract, reflecting a 7.92% gross yield, reversionary to 8.54% at the ERV and a low capital value of £441 psf.
