Hotel/guest house for sale in Sunrise Avenue, Hornchurch RM12

An opportunity to acquire a newly refurbished residential property providing specialist supported accommodation. Let on a new 25-year Fri lease to One cic uncapped annual increases.

The building is arranged as 19 self-contained units plus games room, staff office, staff accommodation, library, meeting rooms
and communal lounge measuring 6,696 sq ft gia (622 sq m).

The property has been redeveloped to a high standard, increasing the energy efficiency of the building to EPC rating B.

Planning consent granted for the conversion of the former care home to sui generis for the use of supported housing. Planning Ref: P0364.22.

Alton House is ideally located in the popular Hornchurch 0.7 miles from Hornchurch Station (District Line).

Current passing rent of £225,155 per annum.

The property has a long-term nomination agreement with Havering Council.

Council driven project and designed in partnership with Havering Council housing team.

Offers in excess of £2,650,000 (Two Million Six Hundred Fifty Thousand Pounds) subject to contract.

A purchase at the asking price would reflect a Net Initial Yield of 7.98% assuming standard purchaser’s costs.