FOR SALE
ON BEHALF OF FIXED CHARGE RECEIVERS
30 Old Street
London, EC1V 9AB
30 Old Street is a rare freehold residential investment opportunity comprising 7 self-contained apartments in Central London.
The building which was converted in 2016 comprises commercial space (Sui Generis) arranged over basement and ground floor and residential use (C3) at first to fifth floors comprising 8 units (6 x 2 Bed, 2 x 3 Bed duplexes).
The commercial space and Flat 1 have both been sold on 999-year leaseholds.
The remaining 7 units (5 x 2 Beds, and 2 x 3 Bed duplexes) are arranged over 1st to 5th floors and offer a total net saleable area of 642 sq. m.
(6,908 sq. ft.).
5 of the units are currently operating under short term lets, 1 is let on an Assured Shorthold Tenancy (AST), and 1 unit is vacant.
The property is currently producing a gross rental income of £364,088
per annum after deducting the operators fees / service costs.
The estimated rental value is expected to be in the region of £420,000
per annum.
Offers are invited in excess of £7,000,000 reflecting a GIY of 5.2%, and a reversionary gross yield of 6%.
