London, W9 1PF | Investment Property for Sale | VES-W9-002

Opportunity to purchase an apartment in London generating £29,904 rent pa & gross yield of 3.7%

£800,000

Apartment

VES-W9-002

INITIAL INVESTMENT

£256,500

Based on

deposit: £200,000

stamp duty: £54,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£29,904

GROSS YIELD

3.7%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Share of Freehold

SERVICE CHARGE

£1,104

2 bedrooms

1 bathroom

1 reception room

570

Unfurnished

Share of freehold information

  • Length of lease: 999 years
  • Year lease started: 1979
  • Years left on lease: 956 years (from 2022)
  • Ground rent: NIL
  • Ground rent review period: n/a
  • Service charge: 90% of the stated cost covers building insurance
  • Service charge review period: tbc
  • Shared ownership (% share being sold): tbc
  • The freeholders manage the property themselves

Property information

  • Located on the second floor
  • Open plan kitchen/reception room
  • The apartment was fully renovated in October 2021, see details below
  • EPC rating C
  • Council tax band E
  • Monthly rental income £2,492

Renovation works carried out

  • A wall in the kitchen was knocked through to create an open plan kitchen/living room
  • A new kitchen was installed with appliances (integrated fridge/freezer, dishwasher, integrated washing machine/dryer, oven & microwave)
  • A new boiler was installed
  • The electrics were fully rewired
  • New flooring and skirting boards throughout
  • New bathroom including tiling, fixtures & fittings
  • New lighting throughout
  • Front sash windows were restored
  • All kitchen appliances are under a 3-year warranty
  • The boiler has a 10-year warranty
  • The bathroom shower is under warranty

Location information

  • The property is located in Maida Vale, West London
  • Maida Vale tube station is 0.2 miles away and Kilburn Park tube is 0.4 miles away
  • There are a number of bus stops within a few minute's walk from the property
  • There is a local supermarket, pharmacy & cafes by Maida Vale tube station
  • Paddington Recreation Ground is 1 minute from the property

Tenancy

RENT

£29,904 p.a. / £2,492 pcm

TENANCY DEPOSIT

£2,875

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

6 months ago

TENANCY AGREEMENT ENDS

10/31/2023

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About London Borough of Westminster, Central London

The City of Westminster is an inner London city and borough in Central London.

It is bordered to the west by the older City of London as well as the Royal Borough of Kensington and Chelsea and to the north by the London Borough of London. Its southern boundary is the River Thames.

Westminster boasts a vast transport network with 27 London Underground stations served by 10 lines. The four National Rail stations serving the borough are London Charing Cross, London Marylebone, London Paddington and London Victoria. Destinations include other parts of London, as well as the South East, South West, Heathrow Airport, Gatwick Airport, Oxford and Birmingham.

Westminster occupies a large part of central Greater London including most of the West End and is made up of 22 districts. Most attractions commonly associated with London are located in Westminster, such as the Palace of Westminster, Westminster Abbey, Whitehall, 10 Downing Street, Buckingham Palace, Big Ben and Trafalgar Square. Other popular locations such as the shopping areas surrounding Oxford Street, Regent Street, Piccadilly and Bond Street and Soho are all located in the borough.

There are 116 parks and open spaces including Hyde Park, most of Regents Park, Green Park, Kensington Gardens, St James’s Park, Leicester Square, Golden Square and Victoria Embankment Gardens. St John’s Wood Church Grounds is the only Local Nature Reserve in the borough and is a Site of Borough Importance for Nature Conservation, Grade I.

Many global corporations have their global or European headquarters in the City of Westminster and many countries’ embassies or High Commissions can be found in Westminster.

Westminster is also home to large number of universities and colleges such as the University of Westminster, King’s College London, London Business School, London School of Economics, Royal Academy of Music, University of Arts London and the Royal College of Art.

Randolph Avenue,

London,

Greater London,

England,

W9 1PF

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