For Sale
On behalf of fixed charge receivers
Paul Shekleton House
39-41 TRINITY CLOSE, LONDON, E11 4GW
Paul Shekleton House is a five-storey residential block comprising of 34 apartments.
The building which was completed in Q1 2019 originally comprised 37 self-contained flats and a ground floor D1 unit. 3 of the units and the D1 commercial space were given to the Local Authority as part of the Section 106 obligation.
The remaining 34 residential units (9 x 1 bed, 16 x 2 beds, 9 x 3 beds) offer a total net saleable area of 2,319 sq. m. (24,966 sq. ft.).
Under the Section 106 agreement, there are 11 units allocated for affordable housing (3 x Shared Ownership, 8 x Affordable Rent) and the remaining 23 units are private.
All 34 residential units are currently let on Assured Shorthold Tenancies (ASTs) generating a total gross rental income of approximately £699,600 per annum.
It is to our understanding that given the current market conditions, the property is underlet. We believe the estimated rental value (ERV) to be in the region of £750,000 per annum.
