This property is no longer on the market
33 bedroom block of apartments
Key information
Property description & features
- Tenure: Freehold
*For Sale By Online PublicAuction 7th February 2024 09:30 AM. To inspect the legal documents for this property go to our website to download the legal pack*
A Substantial Terraced HMO Arranged to Provide 33 x Studio Rooms Producing a Net Income of £165,000 Per Annum
Tenure
Freehold
Location
The property is situated on a residential road close to local shops and amenities. The open spaces of Grange Park are within easy reach. Transport links are provided by Longport rail station.
Description
The property comprises a substantial terraced HMO arranged to provide thirty three studio rooms over the ground and first floors.
Accommodation
33 x Studio Rooms each with En-Suites and Kitchenettes
2 x Communal Reception Rooms
4 x Communal Kitchens
2 x Offices
2 x Laundry Rooms
Accommodation
Exterior
The property benefits from eighteen car spaces.Tenancy
The property is subject to a lease for a term of 5 years to Above N Beyond Ltd commencing 23rd August 2023 at a rent of £165,000 per annum. There is a 3 year break clause with 6 month's notice. The tenant is responsible for utility and maintenance costs, taxes and rates payable.
The break clause, initially set for 3 years from the lease start date (23rd August 2023), can be adjusted to 3 years from the date of property sale completion upon buyer's request. For details and conditions, please refer to Clause 7 in the Special Conditions section of the legal pack.
Note
There is potential for the buyer to ask for the sale of SPV holding the asset. Please refer to Special Conditions (clauses 19, 20 and 21 amongst others).
Note
Planning
Viewing Schedule (Booking Required)
Thursday 25 January 2024 12:00 PM - 12:30
Tuesday 30 January 2024 12:00 PM - 12:30
Addendum
Amended Guide Price: £1,550,000+
The current lease with Above N Beyond Ltd,break has a break clause, initially set for 3 years from the lease start date (23rd August 2023), can be adjusted to 3 years from the date of property sale completion upon buyer's request. For details and conditions, please refer to Clause 7 in the Special Conditions section of the legal pack.
There is potential for the buyer to ask for the sale of SPV holding the asset. Please refer to Special Conditions (clauses 19, 20 and 21 amongst others).
Places of interest
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Property reference 234365. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Auction House London - Hampstead.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on January 15, 2024
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on January 15, 2024
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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