Investment Properties: Penthouses at 219-229 Commercial Road, London, E1 2BT

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Penthouses at 219-229 Commercial Road, London, E1 2BT

OIEO £1,850,000 Subject to Contract

Three Newly Developed Penthouse Duplex Flats

Arranged as 1 x 2 bed and 2 x 3 bed

  • Flat 1 – 1,074ft2 / 3 bed / 2 Terraces
  • Flat 2 – 1,257ft2 / 3 bed / 2 Terraces
  • Flat 3 – 1,006ft2 / 2 bed / 1 Terrace

Total NIA – 3,337ft2

Income:

  • Flat 1 – Vacant – Market Value - £725/week
  • Flat 2 – Let on 2 year term at £725/week
  • Flat 3 – Vacant – Market Value - £550/week
  • The vendor will give a 2 year rental guarantee on the entire portfolio at £110,000pa

“Break-up” value of the flats on open market in the region of £2,600,000-£2,800,000

Leasehold

Guide – OIEO £1,850,000 Subject to contract

This equates to a guide in excess of £554/ft2 and would show an investor a net initial yield of 5.5% assuming purchaser’s costs of 8.25%