Land For Sale £5,900,000
Full description
Tenure: Freehold
Malden Hall, modern student accommodation set within the culturally-rich New Malden, is the perfect place to live and study.
The building contains a variety of newly refurbished rooms, from en-suite bedrooms to self-contained apartments, complete with some fantastic outside space including a table-tennis table, and is the perfect sun-trap in the summer.
New Malden offers a brilliant living experience, the strong multi-cultural community has had a fantastic influence on local amenities and the area is dotted with a wide range of authentic Korean shops, a large selection of restaurants and amenities.
All this is within easy reach of Kingston University, Roehampton University, St Mary's University and Wimbledon University of Arts as well as being only 25 minutes from Central London and all it has to offer.
With the addition of Wimbledon Common and numerous other green spaces nearby, the area is ideal for students who are looking for modern but peaceful living whilst being close to a number of universities, within the affordable Zone 4.
Whilst perfectly positioned to many of London's top universities and colleges, Malden Hall is located only a short walk from Motspur station and a short bus ride away from New Malden station. Being only 15 minutes away from Clapham Junction and 10 minutes there on from London Waterloo, this provides a really affordable option for students in Central London wanting to live in good affordable, quality accommodation in an attractive residential area.
We have been advised by the seller that currently after expenses the net figure is circa £240,000 per annum.
However Possible other options! Currently the property is utilised as University accommodation providing rooms for students from Kingston university. We however believe there may be potential for the prospective buyer to either demolish the existing building to create a new block which we understand has not been submitted for planning consideration or explored so far. Or alternatively the prospective purchaser could look to convert the existing building into a multitude of apartments.
We believe if planning is granted then this would give the best return for any potential investor. The building across the road has been converted and small one bedroom apartments sold for £400,000 recently!
The prospective purchaser if interested in this option would have to undertake their own due diligence and apply for planning themselves to see if this is an option.
As you can see there are various options available to a purchaser.
If you require any further information please do not hesitate to contact us further.
