Investment Properties: 18-22 Craven Hill, Bayswater, London W2 3DS
18-22 Craven Hill, Bayswater, London W2 3DS
Guide Price £15,500,000 subject to contract - Freehold
- Three prominent Grade II listed six storey buildings ina detached terrace comprising an unbroken block of 32 apartments.
- The existing accommodation is arranged as 12 studios,18 x one bed & 2 x two-bedroom flats and a building managers office.
- Net Internal Area – 13,703 sq ft / Gross Internal Area –16,232 sq ft.
- 31 of the apartments are let on AST’s producing £505,368 per annum.
- Flat 3, 20 Craven Hill is occupied by a regulated tenant paying £9,600 per annum.
- Planning Permission was granted on 17th February2017 by Westminster Council for the internal and external works of repair and alteration comprising extensions to the rear of the buildings at lower ground and ground floor, rebuilding of the mansard roof storey, insertion of a passenger lift within No.20, landscaping to the rear garden and use of the three buildings as 24 self-contained residential apartments.Ref; (16/04185/FULL).
- The consented scheme will provide a proposed net saleable area – 14,531 sq ft / Gross Internal Area –18,428 sq ft.
- At the rear of the property is a large garden which canbe accessed either internally from some of the groundfloor apartments and externally from the front of theproperty.
- This opportunity provides additional potential withthe possibility of re-configuring and refurbishing the apartments as and when they become vacant (subjectto the necessary consents).
- Offers are invited in excess of £15,500,000 for the Freehold Interest (equating to a capital valueof £1,131 per sq ft) subject to the benefit of any existing tenancies.