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Long Acre Court Argyle Road, Ealing, London W13 0DA

RESIDENTIAL DEVELOPMENT OPPORTUNITY & GROUND RENT INVESTMENT
For sale
  • Existing three storey block of flats and garages to the rear with planning consent for redevelopment.
  • Located 0.4 miles from Castle Bar Park Station (9 min walk), 0.6 miles from Drayton Green Station (13 min walk), 0.6 miles from West Ealing Station (13 min walk) and 1.2 miles from Ealing Broadway Station (6 min drive).
  • Two separate planning applications have been submitted to provide a private residential scheme comprising 16 flats:
  1. Construction of a three storey building to accommodate 6 self-contained flats and provision of associated parking space, cycle
    storage and refuse storage facilities (following demolition of existing garages) Ealing Council Ref No: 203492FUL. The application is pending approval.
  2. Construction of third and fourth floor to accommodate 10 self-contained residential units and provision of associated cycle and bin store (Prior Approval Application, under Part 20, Class A New Dwelling houses on detached blocks of flats) Ealing Council Ref No: 203326 PANDF.
  • The redevelopment of the garages will provide 6 flats, all 2 beds - 4,626 sq ft / 430 sq m (NIA).
  • The rooftop development will comprise 10 apartments, 8 x 2 bed, 2 x 1 bed - 5,726 sq ft / 532 sq m (NIA).
  • The sale will also include the benefit of the ground rent income - in the existing building 2 leases are sold on a peppercorn ground rent and the other 13 flats producing an income of £1,725 per annum (sold on individual long leasehold interests).
  • Service charge for the 15 flats in 2021/21 totals £19,380 pa.
  • CIL Liability - £10,848.43.
  • Price - OIEO £3,000,000 (Three Million Pounds) Subject to Contract.
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