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High Street, Acton W3

A RESIDENTIAL INVESTMENT OPPORTUNITY WITH ASSET MANAGEMENT POTENTIAL
For sale
  • Ideally located on Acton High Street, only 0.4 miles from Acton Central (Overground) and 0.5 miles from Acton Town (Underground) Station.
  • Accessed from the high street and situated above the retail parade, the block is arranged over four further floors.
  • A total of 27 flats – 25 of which are let on ASTs with a further 2 sold on long leasehold interests.
  • The 25 flats comprise 5 x studios, 17 x 1 bed and 3 x 2 bed with a total NIA of 8,861 sq ft.
  • Ten of the units have been recently modernised to a high standard with the balance in moderate condition.
  • Total passing rent - c.£328,000 pa.
  • If the flats were rented on the basis of the LHA rates, the flats would generate an income of £369,876 pa.
  • There are two relevant planning consents:
    • A lapsed consent to add an additional floor to convert two of the existing flats into maisonettes and add a further 1 bed unit.
    • To move the entrance to the rear of the building and add a lift.
  • The asset is part freehold and part leasehold.
  • Price – OIEO £5,500,000 subject to contract which equates to a gross yield of 5.9% and a reversionary gross yield based on LHA rates of 6.7%.
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