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%.