Site of approximately 1.2 hectares (3 acres) including a freehold Bungalow site (No 31) currently rented at £345 per calendar month
Site sits next to St John's Railway Station and thus offers alternative use for car parking facility
Schemes indicating various numbers of units have been sketched up but other schemes have been suggested
For Sale with "offers invited" for the freehold
For Sale by Tender
Eaton Mansions, SW1
SUBSTANTIAL SECOND FLOOR LEASEHOLD MANSION FLAT IN
ONE OF LONDON’S MOST PRESTIGIOUS NEIGHBOURHOODS
Approximately 215 sq m
Leasehold 36 years unexpired
Service charge/ground rent c£9,500 per annum
PORTFOLIO OF 3 FREEHOLD RESIDENTIAL PROPERTIES IN GREATER LONDON LEASED DIRECTLY TO THE UNDOUBTED COVENANT OF A MAJOR LOCAL AUTHORITY
338 units providing a mix of studio, 1 bed, 2 bed and 3 bed flats.
NIA of c. 100,000 sq ft (c. 9,200 sq m).
The assets are all located closely together in the North of Croydon.
Gross passing rent of £3,538,750 p.a. and an NOI of £3,167,467 p.a.
Average WALT of c. 9 years and a WALT to break of c. 6 years.
Planning consent to add further 26 units.
We are instructed to seek offers in excess of £51,800,000, subject to contract and exclusive of VAT, for the entire portfolio. A purchase at this level, assuming Purchaser’s costs of 6.78%, would reflect an attractive gross yield of 6.40% and net initial yield of 5.73%.
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