Block of flats for sale

Mapesbury Road, London NW2

Investment Consideration:
Gross Initial Yield: 8.88%
Rental Income: £20,000* p.a.
VAT is not applicable to this property
*Option to purchase with vacant possession or let to a Guaranteed Rent operator at £20,000 p.a.
Held on a 125-year leasehold with approximately 84 years unexpired at ground rent of £10 p.a.
Comprises 1-bedroom apartment situated on eight floor of 17 storey purpose build block Windmill Court
Potential to reconfigure into a 2-bed apartment, by converting current kitchen into an additional bedroom
Situated in predominantly residential area, within short walk from Kilburn Underground Station (Jubilee line)
Retail occupiers within short walk include Tesco Express, Shell Petrol Station, Beauty Salon and more.

Property Description:
Windmill Court comprises a high-rise purpose-built residential block which is understood to date from the 1960s and is arranged over 17 storeys. The subject property, Flat 68, is situated at eighth floor level and is a 1-bed flat with separate living room, kitchen, bathroom, and private balcony, providing the following accommodation and dimensions:
Flat 68: 55.61 sq m (599 sq ft)
1 Bedroom, kitchen, living room, bathroom, storage, balcony
*Potential to reconfigure into a 2-bed apartment, by converting the current kitchen into an additional bedroom, and change the existing lounge into open plan kitchen/living with balcony.

Tenancy:
The property can be offered with vacant possession or let to a Guaranteed Rent Operator at a agreed rent of £20,000 p.a.

Tenure:
Long Leasehold. Held on a 125 year lease from 2nd December 1985 at a ground rent of £10 p.a. Reversion 2110 with approx. 84 years unexpired.

Location:
The property is situated on the south side of Mapesbury Road at its junction with Shoot Up Hill (A5). Shops and amenities are available in West Hampstead, Kilburn and Brondesbury. Kilburn underground station (Jubilee line) is close by to the south. West Hampstead's stations provide Jubilee line underground services, as well as Thameslink rail and London overground services. The North Circular Road (A406) is situated to the north and the A41 (Finchley Road) is to the east. The open spaces of Kilburn Grange Park are also within reach.