House For Sale £815,000
Description
A Residential Investment Comprising Five Self-Contained Studio Flats. When Fully Let on Nightly Rents the Total Combined Income is £68,057.90 Per Annum.
Description
The property comprises five self-contained studio flats arranged over first and second floors with a total gia of approximately 1,264 sq ft. The flats have their own rear entrance.
Tenure
Leasehold - The property is held on a 99 year lease from 29th September 1992 (thus approximately 70 years unexpired). At the buyer's request and costs a section 42 notice to extend the lease will be served prior to completion, the rights of which would be assigned to the incoming buyer.
Location
The property is situated on Kilburn High Road close 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.
Tenancy
The five self-contained flats are currently let on a nightly basis with an income of £68,057.90 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 £53,039 per annum. The rent increases each year in line with the rpi and there is no break clause.
Accommodation
First Floor 3 x studio flats with en-suites
A Residential Investment Comprising Five Self-Contained Studio Flats. When Fully Let on Nightly Rents the Total Combined Income is £68,057.90 Per Annum.
Description
The property comprises five self-contained studio flats arranged over first and second floors with a total gia of approximately 1,264 sq ft. The flats have their own rear entrance.
Tenure
Leasehold - The property is held on a 99 year lease from 29th September 1992 (thus approximately 70 years unexpired). At the buyer's request and costs a section 42 notice to extend the lease will be served prior to completion, the rights of which would be assigned to the incoming buyer.
Location
The property is situated on Kilburn High Road close 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.
Tenancy
The five self-contained flats are currently let on a nightly basis with an income of £68,057.90 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 £53,039 per annum. The rent increases each year in line with the rpi and there is no break clause.
Accommodation
First Floor 3 x studio flats with en-suites
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