- A rare opportunity to acquire a stunning, detached, white stucco fronted building, located on one of Notting Hill’s premier streets, Pembridge Gardens.
- Perfectly positioned residential investment situated just 400 feet (2-minute walk) from Notting Hill Station (Central Line).
- The building comprises twelve apartments, of which four have been sold off on long leases (97 years remaining), with a ground rent of £125 payable per flat.
- Seven of the flats have recently been refurbished to a very high standard and are leased to YourApartment.com Ltd, who are a highly reputable serviced apartment operator.
- YourApartment.com Ltd offer undoubted covenant strength scoring (A)71 with Creditsafe, and are considered ‘Very Low Risk’, their latest accounts (YE 2025) report shareholders funds in the region of £2,150,000.
- Their lease is on a IRI basis, for a term of 15 years from August 2025, the rent is £239,000 per annum and benefits from annual CPI rent reviews, with a cap and collar of 1% and 3%.
- Tenants obligations include but are not limited to; the maintenance, repair, redecoration of all the apartments and cleaning of the communal areas.
- The remaining unit is let to a regulated tenant paying £14,000 per annum.
- Total passing rent is £253,500 per annum.
- Accommodation consists of 1 x Studio, 6 x 1 beds, 1 x 2 bed, Net Internal Area - 3,059 sq ft.
- Freehold.
Guide Price - £4,250,000 (Four Million Two Hundred and Fifty Thousand Pounds) subject to contract, reflecting a gross yield of 6%.
