7 bed property for sale

Willesden Lane, London NW6

*For sale via secure sale online bidding: Terms and conditions apply.*

A superb Freehold Residential and Ground Rent Investment 7 self-contained studio flats. Currently on a 10 year lease from June 2022 to a housing association. This provides £100,800 per annum income with no maintenance liability, providing an excellent net yield.

View the virtual tour first, although there have been improvements since it was filmed. Early viewing / negotiation is recommended.

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.

Tenure

Freehold

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 FloorCommercial unit (sold off on a 999 year lease), 2 x studio flats with en-suites
First Floor3 x studio flats with en-suites
Second Floor2 x studio flats both with en-suites and balcony.