High Yielding Unbroken Residential Investment Comprising 21 Private Flats Currently Producing £251,508 per annum
Summary
- Freehold
- An unbroken residential investment comprising 21 flats with a mix of 16 x studios and 5 x 1-beds
- Located within an affuent and leafy village sandwiched between Radlett and St. Albans, Hertfordshire
- Fully income producing and providing a total rent roll of £251,508 per annum
- Potential for additional massing and/or reconfiguration of the units, subject to obtaining the necessary consents
- Increase and improve upon the income and tenant profiles by way of a rolling refurbishment of the units and common parts
- Offers sought in excess of £2,650,000 (Two Million Six Hundred and Fifty Thousand Pounds) subject to contract
- Gross Yield of 9.50%
Location
The building is highly prominent, directly fronting the A5183 / Radlett Road which connects St Albans with Radlett and offers a swift route to Junction 6 of the M1 (5 miles) and Junctions 21 & 22 of the M25 (5 miles).
Radlett Thameslink Station is approximately 1.8 miles from the subject premises from where there are regular connections to London St Pancras International with a fastest journey time of 26 minutes. Luton Airport Parkway Station can be reached on the same line in 19 minutes.
Frogmore is sandwiched in between Radlett and St Albans, two of the most affluent suburbs within Hertfordshire that boast exceptional private and state schools, restaurants, places of worship and sporting and leisure facilities.
Surrounded by picturesque countryside and the beautiful villages of Shenley, Elstree, Aldenham and Letchmore Heath, there are plenty of opportunities for outdoor activities and walks.
Get directions from Google Maps
Mainline Stations
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How Wood (Hertfordshire)14 mins
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Park Street20 mins
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Bricket Wood24 mins
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Radlett37 mins
Underground Station
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Watford Junction82 mins
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Elstree and Borehamwood89 mins
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Watford High Street92 mins
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Bushey98 mins
Further Information
Price Offers in excess of £2,650,000
Rates Payable Upon Enquiry
Service Charge n/a
Estate Charge n/a
EPC Rating This property has been graded as C
Description
The property sits within a site area of 0.28 acres (0.12 ha) and comprises a parade of terraced buildings arranged to provide twenty-one flats over ground and two upper floors with a mix of 16 x studios and 5 x one-bedroom units. The units have full C3 planning use.
There is hard surface parking at the rear of the buildings for approximately 15 cars.
Tenancy
All twenty-one flats are let and currently producing a combined income of £251,508 per annum.
Tenure
The site is held freehold under Title Number HD297730.
EPC
All twenty-one units benefit from an EPC rating of C.
Further Information
For further information or to make arrangements to inspect, please contact Forest Real Estate or our joint agents:
Burlington Green Partners
Adam Velleman
T: +44 (0) 20 7434 8781
M: +44 (0) 7879 477 710
E: adam@burlingtongreen.co.uk
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