Updated: Aug 18, 2022
Ludgrove has sourced an excellent opportunity to bulk-purchase 9 immaculate, new-build luxury apartments from a Developer in Administration.
The apartments are situated in one of Prime Central London's most fashionable areas with convenient access to Mayfair, Piccadilly, Covent Garden and Fitzrovia. With the sale now in control of the Lender we would expect our Client to acquire the site in the region of £10-£12m representing a c30-40% discount to the asking price of £16.5m.
At £11m the units are showing a c4% rental yield and a £1,290 psf capital value. Both compare favourably to the area with typical yields for new-build stock around 3.2% and capital values around £2,000-£2,500 psf. At £11m or £1,290 psf the new owner could have a potential +55% upside at the low-end of the new-build range.
Lastly, the purchase is eligible for Multiple Dwelling Relief, saving the Buyer a further £640,000 in Stamp Duty.
If you would like to find out more please contact Ludgrove. For the reasons outlined in our recent Newsletter, we believe now is an excellent time to acquire in Prime Central London.
Ludgrove Property Ltd
Tel: +44 (0)207 889 2860
Disclaimer: Ludgrove Property Limited is not authorised or regulated by the Financial Conduct Authority (FCA) and we do not provide any financial or investment advice. We recommend that any property investor seeks appropriate professional advice before entering into any contract, and we would also advise that the value of any investment can go down as well as up and that you might not get back what you put in. You may have difficulty selling a property investment at a reasonable price and in some circumstances it might be difficult to sell at any price. We would urge you not to invest unless you have carefully thought about whether you can afford it and whether it is right for you, and if necessary to consult with a professional advisor in accordance with the Financial Services and Markets Act 2000. All information is provided strictly as a guide only, is subject to change without prior notice and does not constitute an offer of investment. The Ludgrove website should not be regarded as an offer or solicitation to conduct investment business, as defined by the Financial Services and Markets Act 2000. Investors who are resident in or citizens of countries other than the United Kingdom may be subject to local restrictions. In particular, no offer or invitation is made to any US persons (being residents of the United States of America or partnerships or corporations organised under the laws of the United States of America or any state, territory or possession thereof), who are excluded from the services offered in this site. The information on this website and our publications has been obtained from sources which we believe to be reliable and accurate, but without further investigation this cannot be warranted.