Mixed Use Investment Chelsea South West London SW6

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Auction date: Thu, 31/10/2024 - 12:00

Guide Price £395,000. The property is an end of terraced dwelling that is made up of a commercial unit occupying the basement and ground floor levels and two self-contained two bedroom flats above. The flats have been sold off on long leases of 150 years and produce a ground rent income of £125 per annum each. The ground floor and basement is let on a law society lease for a period of 7 years from 1st March 2021. The lease applies pre-determined rent reviews and is currently producing £28,000 per annum. This rent will rise to £29,000 in 2025 and again to £30,000 for the period 2026 to 2027. Therefore, the current income that is being produced is £28,250. However, the auctioneers have been advised by the client that the Freeholder pays the insurance premium of a rounded amount of £843 that is not recoverable, and as such the net income is £27,407 per annum. The property is sold with the benefit of this income and will be of interest to investment buyers.

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