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Agent's details

Hamilton House, 79-81 Southampton Row, London WC1B 4HA

For sale: £7,000,000.00|9,076 Sq Ft|Flat, Retail, Residential

Property details

FOR SALE£7,000,000.00
SIZE9,076 Sq Ft
ADDRESSHamilton House, 79-81 Southampton Row, London WC1B 4HA
TYPEFlat, Retail, Residential
TENUREInvestment Opportunity, For Sale Leasehold
POSTED ON13th May 2024

Description

Prime Central London Residential Investment Opportunity
- 15 one and two bedroom flats held on long leases.
- Head lease for the entire block (excluding ground floor retail units)
- Current gross occupational lease income of £29,379 pcm (£352,544 pa)
- Asset management opportunities including refurbishment and break up
- Control of the service charge
- Strong rental demand
- Vacant 12 space car park
- Potential Freehold enfranchisement
- Offers in excess of £7,000,000 (Seven Million Pounds) are invited

The property comprises a 1950s residential building arranged over basement, ground and five upper floors.
The ground floor provides retail units which have been sold separately with 25 residential flats above.
Of the 25 flats, the long leasehold interest of 15 flats along with the building's head lease is included in the sale. The head lease does not include the retail units. The freehold interest is held in separate ownership.
The 15 flats comprise 10x 1 beds and 5x 2 beds.
The common areas could benefit from some refurbishment.
The condition of the flats is mixed with some having benefited from recent refurbishment and others requiring some capital investment.
The property benefits from a right to use large communal rear garden.
12 parking spaces in the basement (potential additional income).
Approximate lettable/saleable area of 843 sq m (9,076 sq ft).

Location

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Location: Hamilton House, 79-81 Southampton Row, London WC1B 4HA

Russell Square (0.1 miles)

Holborn (0.3 miles)

Chancery Lane (0.4 miles)

St Pancras (0.7 miles)

London St Pancras Domestic (0.7 miles)

Farringdon Rail (0.7 miles)

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