Updated: Aug 18, 2022
London property finders Ludgrove has sourced a Prime Central London period block of 3 apartments offering a Buyer the opportunity to significantly enhance the assets' rental and capital value. There is also the potential to extend the property, further increasing returns.
The property is currently under-rented. With a refurbishment and applying comparable rents for nearby properties, Ludgrove estimates the property will achieve around £148,000 of rental income vs £96,000 today, repressing a c50% increase.
The property is currently in a tired condition and we believe a refurbishment will raise the capital value from c£3.4m to c£5m. After allowing for stamp duty, other transaction and development costs, we estimate the new Owner will achieve a c£725,000 capital uplift net of costs, representing a 14% Return on Capital over a period of approximately 6 months. Neighbouring properties have also extended at the rear, so it is likely planning permission would be granted to add additional space thus further enhancing the capital value.
For further information please contact:
43 Berkeley Square
London W1J 5AP
Tel: +44 (0)207 889 2860
*Note: Ludgrove pays 20% commission to Introducers ...
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