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Paradise House, 164a High Street, Acton W3 6QZ

Residential Investment – West London – Zone 2
For sale
  • A fully income producing residential investment located in the heart of Acton in Zone 2, West London.
  • The property comprises 12 apartments (three x 1 bed and nine studios) which are located on the upper parts of a mixed use building.
  • Three of the studios benefit from a partition wall and door making the bedroom separate from the open plan living room.
  • All of the apartments were newly renovated and converted under Permitted Development Rights 4 years ago and are in good decorative order.
  • The building is located just 0.4 miles from Acton Central Station (London Overground) and 0.8 miles from Acton Main Line which benefits from the use of Crossrail.
  • 11 of the apartments are let on individual agreements to Caridon Property Ltd who operate buildings for the purpose of supported housing, the remaining unit is let on an AST.
  • Vacant possession achievable anytime providing 3 months prior written notice.
  • The income is highly reversionary, under the full LHA rate the asset could generate an income of approximately £173,478 per annum. On the basis of private AST’s, we believe that the ERV could be closer to £205,000 per annum.
  • Current Rent Roll is £141,300 per annum.
  • Net internal area of the apartments totals 3,251 sq ft.
  • Held on a 121 year leasehold interest.
  • Guide Price £2,250,000 (Two Million, Two Hundred and Fifty Thousand Pounds) subject to contract.
  • Reflecting a GIY of 6.28%, reversionary to 7.71% under the full LHA rate, 9.11% on the basis of the open market ERV and a low capital value of £692 psf.
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