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- A prime residential investment located in Aldgate East, Zone 1, offering asset management and break up potential.
- The asset is ideally situated for public transport, positioned just 0.4 miles from Aldgate East Station (Underground) and 0.5 miles from Whitechapel Station (Underground, Overground & Crossrail).
- The addition of the Crossrail has improved access to central London, with direct access to Bond Street in just 12-minutes. Additionally, Heathrow Aiport is now also directly accessible in 40-minutes.
- The property is also walking distance from Liverpool Street providing easy access for City workers and in close proximity to the bars, shops and restaurants of Spitalfields Market.
- The building consists of six flats, 4 x 1 bed, 2 x 2 bed, situated over the first, second and third floors comprising a Net Internal Area of 3,282 sq ft.
- All of the apartments are in good condition and the communal areas have been recently refurbished.
- All of the apartments benefit from an EPC rating of C or better falling in line with the upcoming changes to EPC legislations by meeting efficiency standards.
- In addition there are communal amenities on the ground floor that serve the apartments as well as two commercial units which have been sold off on long leases.
- All of the apartments are let on AST’s but are let to historic tenants, the current rent of £107,700 per annum is highly reversionary to a figure in the region of £144,000 per annum.
- 5 of the tenancies are holding over giving a purchaser an immediate opportunity to increase the rental income.
- Open market sale values on an individual basis are in the region of £2,800,000 (£853 psf).
- Freehold.
- Offers in Excess of £2,000,000 (Two Million Pounds) Subject to Contract.
- Reflecting a low capital value of £609 psf, a GIY of 5.4% reversionary to 7.2% based of the open market ERV.
