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.
DESCRIPTION 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.
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.
ACCOMMODATION Ground Floor Commercial unit (sold off on a 999 year lease), 2 x studio flats with en-suites
First Floor 3 x studio flats with en-suites
Second Floor 2 x studio flats both with en-suites and balcony.