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A Freehold Residential and Ground Rent Investment Comprising a Shop (Sold off on a Long Lease) and Seven Self-Contained Studio Flats. When Fully Let on Nightly Rents the Total Combined Income is £126,560.10 Per Annum.
The property comprises a mid terrace building arranged to provide a ground floor shop and seven self contained studio flats on the two upper floors with a total combined GIA of approximately 1,799 sq ft.
Tenure
Freehold
To Be Offered Individually or Collectively With Lots 38-42
Location
The property is situated on Willesden Lane to local shops and amenities. The open space of Kilburn Grange Park is within easy reach. Transport links are provided by Kilburn underground station (Jubilee line) and Kilburn High Road rail station.
Exterior
The property benefits from a rear garden and a terrace at the second floor.
Tenancy
The seven self-contained flats are currently let on a nightly basis with an income of £126,560.10 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 £98,632 per annum. The rent would increase 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.
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
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.