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£1,500,000
Primrose North and West London, Property portfolio NW and W
- 3 apartment porfolio
- All modernised and in good condition
- All on long leases
- All in desirable, residential areas of North and West London
- Annual yield over 4.5%
- All currently tenanted out on year long ASTs
With current gross earnings in the region of £70,000 p/a and low running costs, this a unique opportunity to purchase highly desirable flats in growing areas of London not to be missed.
Key notes:
Studio Queens Court
Rent p/a: £17,976
Service charges and ground rent p/a: £3,190.48
One bed Belsize Avenue
Rent p/a: £25,800
Service charges and ground rent p/a: £1,626.02
One bed Alderside Apartments
Rent p/a: £27,600
Service charges and ground rent p/a: £3,396.54
Totals:
Rent /pa: £71,376
Service charges and ground rent p/a: £8,213
Accommodation:
Queens Court is a top floor, studio apartment with a separate kitchen and bathroom in a portered mansion block which is let out on 12 month AST. Currently achieving £17,976 p/a in rent to a tenant who has lived in the flat continuously since February 2021. The flat has a 148 year lease remaining and pays an annual service charge of £3,190.48 which includes heating and hot water for the flat.
Belsize Avenue is a first floor, one bed apartment with a large open plan kitchen living room. This spacious apartment is currently let out on a 12 month AST with the tenant paying £25,800 p/a. The flat has been rented out since 2016 and has never had more than a few weeks void period between tenancies. The flat has a 91 year lease remaining and pays an annual service charge of £1,626.02.
Alderside Apartments is a third floor, bright one bed apartment with a private balcony in a modern building. The flat is let out on a new AST which will last until March 2025 with the tenants paying £27,600 p/a. The flat has been continuously rented out since 2016 with the longest void period being two weeks during the height of the pandemic. The flat has a 117 year lease remaining and pays an annual service charge of £3,396.54.
Location:
Queens Court is a mansion block just down the road from the Kensington Gardens entrance to Hyde Park. The Queensway area is in the process of a series of building projects which are already increasing both rental incomes and property prices locally.
Belsize Avenue is avenue is a highly desirable residential street just a short walk from Belsize Park and Belsize Lane. This quiet suburb of Hampstead Heath has always enjoyed village like feeling that continues to attract buyers and renters alike.
Queens Park has become one of the most popular areas of West London for young couples looking to start a family. Alderside Apartments was built in 2016 to a very high specification to cater to the growing need for high end, spacious housing in the area. This can be seen from the growth of the retail sector along the street which includes a Gails and a M&S on the ground floor of the building.
