A Residential Investment Comprising an End of Terrace Building Arranged to Provide Five Self-Contained Studio Flats. When Fully Let on Nightly Rents the Total Combined Income is £105,120 Per Annum

The property comprises an end of terrace house over ground and first floors internally arranged to provide five self-contained studio flats with a total combined GIA of approximately 1,227 sq ft.

Tenure

Freehold

To Be Offered Individually or Collectively With Lots 38-42

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of King Edward VII Park are within easy reach. Transport links are provided by North Wembley underground station (Bakerloo line) and North Wembley rail station.

Tenancy

The five self-contained flats are currently let on a nightly basis with an income of £105,120 per annum (assuming full occupancy each night). There is an option to let the building on a single RPI lease to a housing association for a term of 10 years commencing September 2021 at a rent of £81,923 per annum. The rent increases each year in line with the RPI and there is no break clause.

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.