Block of flats for sale

Manbey Park Road, London E15

Strapline

Auction Sale - 10/05/2023

Of interest to investors

Freehold Residential and Ground Rent Investment

Investment currently let at £62,400 pa (7.34% on Guide Price)

Description

The property comprises 5 flats of which 2 have been sold off on 999 year leases. The property also includes a storage unit and garden at the rear. The property does not include the bungalow at the rear, which has rights of way for exit and fire escapes. Please see legal pack for further information.

Location

Stratford is an ever-increasingly popular location in North East London. The property is located on the south side of Manbey Park Road and is less than 100m from Maryland Station (Elizabeth Line).

Transport

Maryland (Elizabeth Line), Stratford

Tenancy

Flat 1 - Let on a 999 year lease from 01.01.2022 at a ground rent of £150 pa

Flat 2 - Let on a 12 month AST from 31.08.2022 at £1,800 pcm (£21,600 pa)

Flat 3 - Let on a 12 month AST from 17.12.2022 at £1,900 pcm (£22,800 pa)

Flat 4 - Let on a 12 month AST from 24.09.2022 at £1,500 pcm (£18,000 pa)

Flat 5 - Let on a 999 year lease from 01.01.2022 at a ground rent of £150 pa

Total - £62,400 pa

Accommodation

Please note that the property has not been inspected by Savills.

Flat 2 - 2 bedrooms, 2 bathrooms, plus rear entrance and private garden courtyard

Flat 3 - 2 bedrooms, has an attractive roof terrace with potential to extend (stpp)

Flat 4 - 2 bedrooms, has an attractive private roof terrace with potential to extend (stpp)