REF 528
INVESTMENT
£3,250,000
GROSS YIELD
5.2%
ANNUAL RENT
£168,900
The opportunity is to acquire the freehold of a fully refurbished, modern multi-unit residential block in an excellent location. The property consists of 6 x One-Bedroom Apartments and 2 x Multi Let/ HMO Units comprising 8 Bedrooms and 2 Studios and generates £168,900 per annum.
The property is located a 1-minute walk to the mainline DLR station, Elverson Road.
The incoming purchaser will be acquiring an up and running low maintenance, hands-free, low input investment at an excellent yield of in excess of 5.1%, for a long term return on capital, and also with the potential for capital appreciation.
Located a 200 m distance of Elverson Road DLR Station, a mainline station with direct links to both Lewisham, Canary Wharf, the CIty, and Beyond. Also within a 5-minute walk of Lewisham centre.
The property is a former pub that was fully refurbished and extended and consists of a five-story multi-unit freehold block. The accommodation is fully let on standard assured shorthold (AST) tenancies with a consistent 100% occupancy and very low tenant turnover. The tenants are handpicked and respectful working professionals.
The current owner bought this property as a run-down pub in Autumn 2010, operating under a private landlord with very little custom and so the brewery owner was keen to sell this freehold along with many more loss-making pubs across the country.
The new owner then split the garden off and built 7 new build flats; Vantage Apartments, which have since been sold off.
Planning was then granted to turn floors 1&2 into a 10 unit HMO with the addition of a mansard roof with 2 self-contained flats and a full side extension to the property plus a reduced dig of the pub cellar basement.
Subsequent planning permission was then granted to convert the pub ground floor and basement into 4 additional self-contained flats.
*Based on 75% LTV 2.5% APR. Note. Always speak to a qualified HMO mortgage broker for an accurate quote. These rates are an example of the potential % APR rates only. Visit theHMOmortgagebroker.co.uk to find out the latest HMO mortgage rates.
The fee charged to the buyer in addition to the purchase price.
The deposit amount to secure the HMO opportunity. This is fully refundable in accordance with the terms & conditions (see FAQs) and is deducted from the purchasre price upon completion. In the case of this property, the reservation deposit is -- then the balance due on completion is £3,250,000.
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