No longer on the market
This property is no longer on the market
MapStudio
Studio
3684
Key information
Features and description
- Currently arranged as HMO measuring 3,684sqft
- Producing £122,063pa in rent with two rooms vacant
- Configured as 7 studios, 7 shared facility rooms and 1x1-bed
- Located 0.6 miles from Erith Station
- Lapsed consent from 2019 to convert into 9 self-contained apartments
- Oieo £1,250,000 f/h (9.7%)
An opportunity to purchase a part-let, fully licensed House in Multiple Occupation (HMO) in Erith, which is currently producing £122,063pa. The property measures c.3684sqft in total, and is arranged as 7 studios, 7 shared facility rooms and 1x1-Bed - along with communal kitchens & bathrooms. The property is in good condition throughout and benefits from a large rear garden which has potential to extend the existing building to provide further accommodation (STPP). Each room is subject to a service charge ranging between £60-£100pcm depending on size & configuration. There are currently two rooms vacant with the total ERV for the property being c.£150,000pa with clear potential to increase the rental income over time. The property offers potential for re-development and has a lapsed planning permission for conversion & extension to 9 flats in 2019 to support this.
Property information from this agent
About this agent
As one of London and Kent's most successful property companies with 35 years experience and 40 offices, we strive to deliver a service that is unparalleled by our competitors. Our team appreciate that your home is likely to be your most treasured asset. Therefore whether we are selling, letting or assisting in a purchase, our priority is to ensure each client is treated with care and consideration.