Auction House London

Lot 34

Terraced - Houses 

98 Priory Park Road

Kilburn, London, NW6 7UU

£1,450,000+

Guide Price (plus fees)

A Residential Investment Comprising a Mid Terrace House Internally Arranged to Provide Eight Self-Contained Studio Flats. When Fully Let on Nightly Rents the Total Combined Income is £147,825 Per Annum

Description

The property comprises a mid terrace house over ground and three upper floors internally arranged to provide eight self-contained studio flats with a total combined GIA of approximately 1,727 sq ft.

Tenure

Freehold

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Kilburn Grange Park are within easy reach. Transport links are provided by Kilburn underground station (Jubilee line) and Kilburn High Road rail station.

Tenancy

The eight self-contained flats are currently let on a nightly basis with an income of £147,825 per annum (assuming full occupancy each night). There is an option to let the building on a single RPI lease to a housing association for a term of 10 years commencing September 2021 at a rent of £115,204 per annum. The rent increases each year in line with the RPI. No break clause.

Addendum

Buyers are advised that the negotiation with the Housing Association are ongoing and not confirmed, contrary to our original sales particulars.

Accommodation Schedule

Floor Accommodation
Ground Floor 3 x studio flats with en-suites, communal kitchen
First Floor 3 x studio flats with en-suites, communal kitchen
Second Floor Studio flat with en-suite
Third Floor Studio flat with en-suite

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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