BREXIT is back in the headlines pressure on the Sterling has created interesting real estate opportunities in the world capital of luxury: London. Savvy investors interested in entering the London flat market should consider this newly listed 4 unit complex in the ever so popular Chelsea district. Read more below and scroll the bottom for a secure contact form:
London, XX October 2017 – JLL is offering a rare chance to purchase a collection of four apartments within a period building, including the Freehold, in Walpole Street, prime Chelsea. On the market for £3,950,000, it is an interesting investment opportunity, with refurbishment potential and possible long-term capital appreciation.
The four self-contained apartments have been successfully rented out for many years, and three of the four are currently rented out on AST’s, with the upper maisonette vacant.
Tim des Forges, Director of Residential at JLL, comments: “This conversion in Walpole Street is a great opportunity for an astute buy-to-let landlord looking to expand their portfolio with an unbroken freehold conversion in this ever popular area. With tenants in situ, the new owner can either continue “as is” or refurbish as the flats become vacant in order to maximise returns. Alternatively, it could make a great living arrangement for a family with older children wanting their own space.”
There is a one-bedroom basement apartment (638 sq ft) with street access and its current tenancy ends on the 8th September 2018 with no break or rent review. The one-bedroom ground floor apartment (409 sq ft) has a patio garden, and a one year tenancy from 16th June 2017 with no break or rent review. The one bedroom, first floor apartment (405 sq ft) has two sets of French windows on to a balcony. The tenancy that ends on the 14th September 2018 with a mutual break agreed on the 14th December 2017 with two months’ notice and no rent review. The upper maisonette (1,021 sq ft) has two bedrooms and is currently vacant.
Tim des Forges, adds: “The apartments are in need of varying degrees of modernisation, so it is a project that can either be done as a whole or in stages.” Should work be done to the expected standard for the area, it could command a rental income of £133,900 per annum representing a rental yield of almost 3.4%.
Walpole Street is a desirable street, primarily made up of family homes. It sits to the south of King’s Road, a short walk from the Saatchi Gallery and Sloane Square. There is plenty of public transport in the area, and popular for young professionals and established families.
Courtesy TheTopTier Digital Media