Auction House London

Lot 42

Apartment - Flats / Apartments 

First & Second Floors, 219A Kilburn High Road

Kilburn, London, NW6 7JG

Sold for £851,000

A Residential Investment Comprising Five Self-Contained Studio Flats. When Fully Let on Nightly Rents the Total Combined Income is £68,057.90 Per Annum.

To Be Offered Individually or Collectively With Lots 38-42

Description

The property comprises five self-contained studio flats arranged over first and second floors with a total GIA of approximately 1,264 sq ft. The flats have their own rear entrance.

Tenure

Leasehold. The property is held on a 99 year lease from 29th September 1992 (thus approximately 70 years unexpired). At the buyer's request and costs a section 42 notice to extend the lease will be served prior to completion, the rights of which would be assigned to the incoming buyer.

Location

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

Tenancy

The five self-contained flats are currently let on a nightly basis with an income of £68,057.90 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 £53,039 per annum. The rent increases each year in line with the RPI and there is no break clause.

Accommodation Schedule

Floor Accommodation
First Floor 3 x studio flats with en-suites
Second Floor 2 x studio flats with en-suites

Additional Fees

Administration charge: £1,200 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.

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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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Enquire about First & Second Floors, 219A Kilburn High Road, Kilburn, London, NW6 7JG

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